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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money.
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A look at the US indices

A look at the US indices

Equities 4 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  The US jobs numbers are in, and sentiment is weighing a disappointing headline figure against a 48-year low in unemployment and the impact of Hurricane Florence.

Dow Jones Industrial Average

The DJIA has put in a Doji evening top and reversal pattern, testing the lower rising trendline in what looks like a rising wedge formation. A break below yesterday’s low could trigger a sell-off, taking the index down to 25,750. Divergence on both RSI and MACD indicates a correction is due.
Dow Jones Industrial Average
Source: Saxo Bank
S&P 500 

Strong resistance is seen at 2,940, forming what looks like a double-op pattern. The index looks likely to test support around 2,860 over the next couple of days. A close below 2,860 could fuel further a sell-off to 2,800. Divergence on RSI and MACD indicates that it's correction time. 

For the bear trend to be cancelled out, the S&P 500 needs to take out the highs at 2,940. 
S&P 500
Source: Saxo Bank
Nasdaq 100 

Strong resistance at 7.691 with a double top-like formation to be confirmed by a close below 7,400. The rising trendline has been broken as of Thursday's close.  A close below 7,400 is likely to take the index as low as 7,000; we see support at around 7,250. To prevent the bearish picture from continuing to unfold, a close above 7,691 is needed. RSI and MACD divergence indicates a further bear move ahead. 
Nasdaq 100
Source: Saxo Bank

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