US30 Forecast

US30 New Forecast

Nasdaq and S&P 500 Futures Rise on Chip Stock Rally Following Nvidia’s Positive Revenue Forecast

Futures tracking the tech-heavy Nasdaq and the benchmark S&P 500 climbed on Thursday as chip stocks rallied, bolstered by Nvidia's optimistic revenue forecast, which strengthened investor confidence in the rapid growth of artificial intelligence technology.

Traders anticipate the U.S. central bank will reduce interest rates by nearly 40 basis points by year-end (FEDWATCH). Additionally, markets closely monitor economic data scheduled for release throughout the day, including weekly jobless claims, S&P Global flash PMIs, and housing figures.

Technical Side:
As noted in the previous chart, the price corrected to the support line at 39,540.

Now, it will remain in the bullish zone as long as it trades above 39,540, targeting 39,790 and potentially 40,005. However, if it stabilizes below 39,540, the price is likely to drop to 39,360.

Pivot line: 39650
Resistance Prices: 39850, 40005, 40130
Support Prices: 39360, 39070, 38790

The movement range will be between support 39360 and Resistance 40130