Nasdaq and S&P 500 Sink to Oversold While Silver Rebounds

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The Nasdaq and S&P 500 outlook hinges on oversold signals after AI data center fears reversed early post-election gains while silver rebounds.

Razan Hilal, StoneX Media Market Analyst, breaks down the support zones on the Nasdaq, S&P 500 and silver charts after the selloff that followed the Democratic win. The Nasdaq is attempting to hold a rebound off a key technical confluence zone, with daily RSI recovering from oversold conditions last seen in March 2026.

Concerns over a slower AI data center buildout turned initial buying into selling pressure across tech-heavy indices. Silver's connection with the tech and AI industry means its rebound may feed into a broader recovery in risk sentiment. The S&P 500's daily RSI is also rebounding from oversold extremes last seen during the March 2026 selloff tied to the U.S.-Iran war.

This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by Forex.com.

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