TA Talk --> Well, both the Nasdaq and S+P 500 are nearing or at their Aug '22 highs, which is the key resistance area for both. So the question is what happens next?
The resistance is 4305 for the S+P 500 (currently trading at 4283), and for the Nasdaq the resistance is 13,128 (currently trading at 13,230). So the Nasdaq is already 'through' the key resistance level, though only barely.
It wouldn't be surprising to see an upside overshoot in the days/weeks ahead (especially the Nasdaq), and then a pullback to re-test those Aug '22 levels (which will then be support).
For the DJIA the situation is different. The Dow was first (by far) to bounce back from the Oct low, but then has basically been in a sideways holding pattern with a downward bias. It's actually still in a downtrend (unlike Nasdaq and S+P 500). Resistance is 34,000-34,500 band, and technically it has to get through those to begin reversing the downtrend.
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