S&P and Nasdaq 100 aim to shift technical bias higher

The S&P and Nasdaq 100 are attempting to push their technical bias back to the upside after recent pullbacks found support near key levels. That marks a beginning. The next challenge is to break resistance, maintain those breaks, and build on the upward momentum.

The technical outlook is brightening, though each index is progressing differently. In the meantime, Meta continues to lag, while Nvidia, Apple, and Microsoft are trading higher.

In the video above, I examine each chart and highlight the positives, the negatives, and the levels that will shape the bias, risk, and targets moving ahead.

S&P: Buyers push above the hourly moving averages

The S&P has climbed above its 200-hour moving average at 7721.11 and its 100-hour moving average at 7731.82, hitting a session high of 7736.06.

These breaks give buyers a more positive tilt following the declines over recent days that brought the index back toward its 100-day moving average near 7606.37. Buyers tested that support and have since lifted the price above the shorter-term moving averages.

That is how a recovery starts to build a firmer technical base. Support holds below. Resistance is broken above. Buyers gather more evidence that they are regaining control.

However, moving above the moving averages is only part of the task. Staying above them is the crucial next step.

The 100-hour moving average at 7731.82 now serves as the first close watch, followed by the 200-hour moving average at 7721.11. If both hold, buyers have a foundation for another advance. If prices fall back below both, the breakout loses strength, raising the chance of another failed upside attempt.

Nasdaq 100: Back above the 100-day moving average, with more work ahead

The Nasdaq 100's low last Thursday stalled near the 28822–28953 swing area. That support attracted buyers, and the recovery extended through Friday and Monday.

Today, buyers advanced further by pushing the price above the 100-day moving average at 29551.54. The index reached a high of 29713.27 and is currently trading near 29692, still above that key daily moving average.

For now, 29551.54 becomes the downside reference. Holding above it keeps the recovery favorable for buyers. A fall back below would undermine today's bullish move.

On the upside, the next goals are specific:

• 29944: The 100-hour moving average.

• 30187: The 200-hour moving average.

Unlike the S&P, the Nasdaq 100 still faces those hourly moving averages above. Reclaiming the 100-day moving average is a favorable sign. Moving above the 100-hour and then the 200-hour moving averages would grant buyers more control.

Meta: Sellers remain in control below the daily moving averages (but is a short-term bottom near?)

Meta is moving in the opposite direction.

After dropping sharply yesterday while the broader market improved, the shares are under pressure again today. The price has slipped below both its 100-day moving average at $630.87 and its 200-day moving average at $632.33.

At the current price of $625.80, Meta is down $4.78 on the day.

Those two moving averages now form a key resistance zone. As long as the price stays below $630.87–$632.33, the technical bias favors the sellers. Buyers must reclaim that zone—and hold it—to offer an initial sign that selling pressure is easing.

There is, though, a potential support story forming below.

The decline has brought Meta back toward the $605–$625 range established the day after the Muse launch. Will buyers consider that area a chance to set their risk against the lower boundary at $605?

That depends on their risk appetite. Using $605 to define risk from the current price leaves a substantial gap to that level. A move into the range alone does not confirm that a bottom is taking shape.

For traders seeking technical confirmation, a sustained push back above the 100-day and 200-day moving averages would be the first improvement to watch. Until then, the sellers retain control.

Nvidia, Apple, and Microsoft offer more positive clues

In the video, I also examine Nvidia, Apple, and Microsoft. Each is trading higher on the day, showing additional bullish technical signs.

For each, the key questions are the same: What is the bias? Where is the close risk? And what targets need to be broken to keep the buyers moving forward?