US shares hit fresh session highs as bulls reclaim key moving averages

US equities are pushing into new session highs, with buyers making headway on technical indicators. The Nasdaq Composite and Nasdaq 100 have both moved back above their 200-day moving averages and corresponding 38.2% Fibonacci retracement levels. While those gains give the bulls additional control, obstacles remain ahead.

For the S&P 500, the rally has brought the index back into a key moving average zone. The next challenge is to rise above that area and hold there. Buyers have taken the initiative; now they must follow through.

S&P: Sitting between the moving averages.

The S&P 500 is trading near 7635, lifting the index above its 100-day moving average at 7621.82 and the 200-bar moving average on the 4-hour chart at 7622.85. The closeness of those levels gives traders a precise risk-management point.

If the index holds above the 7622 region, buyers can focus on the 100-bar moving average on the 4-hour chart at 7674.70. Clearing that level would strengthen the bullish case and open the way toward 7730, followed by the higher swing zone between 7771 and 7816.

On the other hand, a drop back below 7622 would undo some of the rebound’s strength. Traders would then watch 7617, with further support at 7573 and 7507.77.

Buyers have returned to the moving average range. A push above 7674.70 is the next step toward increasing their advantage.

Nasdaq Composite: The upside gap gives bulls a foothold.

The Nasdaq Composite gapped above its 38.2% retracement at 25036.33 and its 200-day moving average at 25123.39. The index has extended to roughly 25621, creating some breathing room above those reclaimed levels.

That is a constructive development. Still, the next significant barrier comes at 25831.74.

That level has acted as both support and resistance on multiple occasions. Moving and staying above it would direct traders' attention to a group of moving averages:

• The 100-day moving average at 26176.96.

• The 200-bar moving average on the 4-hour chart at 26192.41.

• The 100-bar moving average on the 4-hour chart at 26414.80.

Those represent the next upside milestones if buyers can push past 25832.

To the downside, the 200-day moving average at 25123 and the 38.2% retracement at 25036 now serve as support. Falling back below both would undermine the bullish breakout and embolden sellers.

Nasdaq 100: Bulls target the former swing low.

The Nasdaq 100 has also gapped above its 200-day moving average at 28018.65 and its 38.2% retracement at 28108.03. With the index trading near 28563, buyers are holding above that critical support zone.

The next objective lies between 28822.67 and 28953.26.

That swing region has been tested numerous times, raising its significance. It served as a floor before the downturn. On the recovery, it becomes a ceiling that buyers must break through.

A move above would point traders toward the 100-day moving average near 29392, followed by the 4-hour chart moving averages near 29411 and 29567.

For now, staying above 28019–28108 keeps the buyers in the game. A drop below would undercut the recovery and give sellers a stronger hand.

Education: A breakout gives traders a level to define risk.

A technical breakout is most valuable when it clarifies risk.

For the Nasdaq indices, the reclaimed 200-day moving averages and retracement levels give buyers a support to lean on. For the S&P, the nearly converged moving averages around 7622 offer a tight gauge.

Hold above, and buyers can keep aiming for the next upside targets. Fall below, and the breakout begins to falter.

The recovery is advancing. Overcoming the next resistance levels—and holding the ground already won—will show whether the bulls can sustain this progress.