Tech does not wait on CPI and Geopolitics – Dow Jones, Nasdaq and S&P 500 CPI Levels

• US Stock Benchmarks somewhat consolidate as uncertainty withstands to start the week, preparing for tomorrow's CPI report
• Nasdaq and S&P 500 continue to grind higher, supported by option-positioning and a very resilient semiconductor sector
• Exploring Technical Levels for the Dow Jones, Nasdaq and S&P 500

US stock indexes are starting to settle as uncertainty returns at the beginning of the week.

After last week’s big, news-driven moves, traders are stepping back and getting ready for tomorrow’s essential CPI report; A kind of cautious trading is common before major economic data, especially since central banks are watching closely for signs of how the Middle East conflict might be affecting consumer prices.

Adding to this economic uncertainty, both the US and Iran turned down each other’s diplomatic proposals over the weekend.

Without a ceasefire agreement, WTI Crude Oil prices are steadily rising right at the edge of $100 – As energy costs keep climbing, the risk of persistent, war-related inflation remains the main obstacle to hopes for interest rate cuts but this seemingly isn't much of a concern for Stock Markets these days!

Even with these ongoing geopolitical issues, the broader stock market is still resilient, showing that participants appear to be looking beyond the current Middle East situation and are focusing their optimism on the upcoming Trump-Xi summit in China later this week.

With this sense of optimism about upcoming global events, the Nasdaq and S&P 500 keep moving higher.

Strong options activity and a bullying semiconductor sector are helping to support these gains, even as worries about the bigger economic picture remain.

Meanwhile, the Dow Jones is taking a more cautious approach, but strong interest in tech stocks is keeping the overall market afloat, despite ongoing uncertainty.

Let's prepare for tomorrow's quintessential US CPI report by diving into intraday charts and trading levels for the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500.

Discover:

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The split continues further with Semiconductors really demarcates itself from the past week's tech-wide rally, while the rest lag behind, leaving the DJIA underperforming the Nasdaq and S&P 500.

The Dow Jones is consolidating further between 49,400 to 49,700 as participants keep placing more attention to the higher-volatility Nasdaq and S&P 500.

The RSI momentum is somewhat turning lower and rejecting the 2H 50-MA (49,676), pointing to lower action in the upcoming action.

Watch for 49,000 to the downside, and 50,000 for the upside.

Dow Jones technical levels for trading:

Resistance Levels

• 2H 50-MA (49,676)
• 49,900 to 50,000 Resistance and Early 2026 Highs
• ATH resistance 50,400 to 50,500
• All-Time Highs 50,544

Support Levels

• April 14 Gap Fill Pivot 49,500
• Major Pivot – 49,000 to 49,100 (short-term bearish below)
• Momentum Support 48,500
• Pivotal Support at 48,000 (mid-term bearish below)
• Mini Support 47,400 to 47,600

Nasdaq continues its rocket path towards 29,500, up 11.78% since its prior all-time high.

With the ongoing extension, overbought RSI conditions are not bringing back any sign of rejection. Looking at the tight bull channel (multiple green candles overlapping each other, I invite you to discover this powerful pattern) seen on the Daily chart, no element is poiting to a slowdown of the consistent price discovery.

Except for any fundamental change, nothing can stop this train!

To the upside, look at 30,000 on the long-term – To the downside, below 29,000 traders can expect accelerated downside.

Nasdaq technical levels of interest:

Resistance Levels

• 29,500 potential resistance
• Next level 29,750

Support Levels

• 29,250 consolidation and momentum pivot
• 28,500 Minor support
• 28,000 Major psychological resistance now Pivot (and channel highs)
• 27,500 micro-support
• Momentum Pivot at 27,000 (4H 50-period MA)
• Prior ATH Support 26,200 to 26,300

The S&P 500 is still pulling higher within its upward channel, testing its upper bound.

By failing to reject it, odds for an upside breakout are increasing, but this will be heavily contingent on tomorrow's CPI release.

Look at reactions to the 7,450 potential resistance, with the next stop at 7,500.

For the downside, sellers will want to see a clear rejection and sale below 7,400.

• On the bigger picture, breaking 7,250 points to a larger retracement (to previous all-time highs?)

S&P 500 technical levels of interest:

Resistance Levels

• 7,430 - 7,450 Channel extension potential resistance
• Next stop 7,500

Support Levels

• 7,320 Past week retracement
• Pivotal Support 7,250 to 7,260
• Prior ATH Pivot 7,000 to 7,020
• Minor Support 6,880 to 6,900
• Pivotal Support 6,750 to 6,770
• 6,300 psychological level (War lows)

Keep track of WTI Crude and the latest headlines throughout the week to stay ahead of the game.

Safe Trades!

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