Wall Street Mixed as Dow Surges Higher While Nasdaq Slides on Oil Drop

Wall Street experienced a noticeably mixed trading session today. Specifically, the broader market is heading toward its best month in more than five years. As a result, the Dow Jones Industrial Average (DJIA) led the major gainers higher. It jumped 539.65 points (+1.10%) to reach 49,401.46. Similarly, the S&P 500 added a modest 3.43 points (+0.05%) to trade at 7,139.38. However, the tech-heavy Nasdaq slipped lower against the trend. It dropped 126.71 points (-0.51%) to fall to 24,546.53.

Dow Jones Industrial Average (INDU)

The Dow Jones Industrial Average (DJIA) is currently trading right near the ascending orange trendline. As a result, the market is essentially in a wait-and-see mode for now. Therefore, traders are watching for more confirmation before committing to a direction. If the index continues to push lower, sellers will easily extend their downward push. Consequently, the daily EMA 100 and the underlying Fibonacci retracement levels become the next major support areas to watch.

CME Group Inc. (CME)

CME Group (CME) is currently undergoing a healthy pullback from its recent highs. Specifically, the share price has now reached the daily EMA 200 support level. Furthermore, the price action strongly suggests that CME is bottoming out at this dynamic support. If a confirmed bounce develops in the coming sessions, the bullish picture returns immediately. Consequently, there is a strong chance that the share prices will start a brand-new bullish leg. Therefore, traders should watch for clear bullish reversal signals around this critical zone.