Nasdaq, Dow, S&P 500 Forecast: Bulls Defend Key Support

• Nasdaq 100 has formed a potential double bottom pattern and is consolidating above the 50-day EMA at 29,228, with the AI trade showing signs of renewed strength
• The Dow Jones 30 is testing support near $53,000 with the 50-day EMA just below, while the S&P 500 faces resistance at 7,800 and support at 7,600
• Despite climbing bond yields triggered by stronger jobs data, all three indices remain in established uptrends with bulls defending key technical levels

Market Summary: Major U.S. Indices Hold Key Support Levels

Date: September 7, 2026

Key Market Levels and Performance

All three major U.S. indices demonstrated resilience amid choppy trading conditions, maintaining critical technical support levels:

• Nasdaq 100: Trading at 29,572.15 (+0.28%), holding above the 50-day EMA at 29,228.5
• Dow Jones 30: At 53,123.00 (-0.29%), with key support at the $53,000 level and 50-day EMA at 52,805.53
• S&P 500: At 7,714.42 (-0.07%), maintaining support near 7,600 with resistance at 7,800

Market Drivers

The jobs report released Friday came in hotter than expected, causing volatility in the bond market. Despite rising interest rates, the AI trade sector shows signs of recovery, supporting the Nasdaq's performance.

Technical Outlook

All three indices remain in established uptrends, with consolidation occurring around their respective 50-day EMAs over recent weeks. The Nasdaq has formed a potential double bottom pattern, suggesting underlying bullish sentiment.

For the S&P 500, a breakout above the 7,800 resistance level could trigger FOMO (fear of missing out) buying. The Dow maintains its uptrend despite testing the $53,000 support zone.

Analyst Perspective

Senior analyst Christopher Lewis emphasizes focusing on actual market behavior rather than expectations, noting that despite climbing rates, support levels have held firm. Monday's CFD trading is discounted as non-representative since actual indices were closed.