Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – Stock Breakout Eyes All-Time Highs

• The S&P 500 is approaching all-time highs with a potential measured move target of 7,900, supported by strong earnings and technical breakout patterns
• The Dow Jones 30 reached fresh highs above 53,000, with the 50-day EMA acting as support and the index trading near the top of its bullish channel
• The Nasdaq 100 reclaimed the 28,500 support level and broke above its 50-day moving average, signaling renewed buyer interest in technology stocks

Market Summary: US Indices Eye All-Time Highs on Technical Breakouts

Key Market Movements (August 4, 2026):

US equity indices posted strong gains during Tuesday's trading session, with all three major benchmarks showing positive momentum:

• Dow Jones 30: +1.25%, trading at 53,827.00 (fresh all-time highs)
• Nasdaq 100: +0.91%, trading at 29,128.75
• S&P 500: +0.31%, trading at 7,635.60

Technical Analysis:

The Nasdaq 100 broke above the critical 28,500 level and reclaimed its 50-day EMA, signaling renewed buyer interest after recent consolidation. The move above the 50-day exponential moving average represents a significant technical milestone.

The Dow Jones 30 continues its impressive rally, pushing past the 53,000 resistance level, which analysts expect will now serve as support. Boeing was noted as a key driver in Monday's session. The index is approaching the top of a potential channel formation.

The S&P 500 achieved a crucial breakout above 7,600, positioning itself near all-time highs. Technical analysis suggests a measured move target of 7,900 based on a rectangle pattern breakout. The index is trading above both its 50-day and 200-day EMAs.

Market Drivers:

• Positive earnings season providing fundamental support
• Market speculation regarding potential Federal Reserve rate cuts, though bond markets remain skeptical
• Strong technical momentum with buyers stepping in on pullbacks
• Previous resistance levels now acting as support zones

Senior analyst Chris Lewis suggests short-term pullbacks will likely attract buyers in what remains a robust uptrend across all three indices.