Market analysis
On Wednesday the S&P 500 closed at a record high of 6,481.40, up 0.24%, while the Dow Jones and Nasdaq 100 gained 0.32% and 0.21%, respectively.
Nvidia’s shares fell 3.2% after hours as its $54 billion third quarter (Q3) revenue forecast, which excludes China sales due to ongoing geopolitical risks, left investors cautious.
S&P 500 trades in record high
The S&P 500 made yet another record high and is gunning for the 6,500 region, provided it remains above the 6,429-to-6,417 support area on a daily chart closing basis. It consists of Tuesday’s low, the late July peak and the April-to-August uptrend line.
Were this support zone to give way, a slip to the 20 August low at 6,344 may ensue.