Nvidia Breakout to Fuel Nasdaq Rally Toward New Highs Today: Key Levels to Watch

investing.com:

Post the Fed's dovish-leaning meeting, stocks, gold, and bonds surged, with yields dipping, prompting speculation about whether the post-Fed rally will last.

For the QQQ, attention is on critical support levels like 434.00 and 439.00, which have acted as strong floors amid recent market volatility.

Nvidia's stock is approaching a pivotal point around the $905.00 area, where breaking resistance could signal a new record high, while failure to do so might indicate a bearish trend reversal.

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Following the Fed’s dovish-leaning policy meeting on Wednesday, we saw stocks, gold and bonds all surge higher, causing yields to dip.

Today we will see whether those moves have further legs to run or whether we get the usual post-Fed fade, as traders book profit.

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Index futures managed to extend their gains and some European indexes like the DAX opened in fresh unchartered territories, before pulling back.

We also saw gold prices jump to a new high during the early Asian session, before easing somewhat amid profit-taking and as investors made a more sober assessment of the Fed’s assessment of interest rates.

The FOMC maintained interest rates unchanged for the fifth consecutive meeting on Wednesday, reiterating its