NASDAQ Index, SP500, Dow Jones Analysis – Stocks Retreat From Session Highs As Regional Banks Fall

Key Insights
SP500 failed to settle above the 4000 level.
NASDAQ tested the major resistance level amid strong demand for tech stocks.
Dow Jones faced resistance at the 20 EMA and pulled back.

SP500 pulled back towards 3960 after an unsuccessful attempt to settle above the 4000 level. Today, traders focused on Initial Jobless Claims and New Home Sales reports.

Intial Jobless Claims report indicated that 192,000 Americans filed for unemployment benefits in a week, while New Home Sales grew by 1.1% month-over-month in February. The strong economic data provided material support to stocks at the start of the trading session.

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