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SP500<\/a> gains ground as traders react to Powell\u2019s comments at the Jackson Hole Symposium. Powell noted<\/a> that Fed would raise rates further if necessary, but he did not say anything new. Treasury yields moved higher when Powell was speaking but have pulled back later. The U.S. dollar has also moved away from session highs, indicating that traders were not ready to bet on a more hawkish Fed.\u00a0 Today, traders also had a chance to take a look at the final reading of the Michigan Consumer Sentiment report. The report indicated that Consumer Sentiment declined from 71.6 in July to 69.5 in August, compared to analyst consensus of 71.2. Traders have mostly ignored the report as they focused on Powell speech.<\/p>\n SP500 is moving towards the resistance in the 4430 \u2013 4450 range. A move above the 4450 level will open the way to the test of the 200 MA at 4495.<\/p>\n<\/div>\n<\/div>\n NASDAQ<\/a> has also managed to gain upside momentum in today\u2019s trading session. Tesla, which is up by 3%, is among the biggest gainers in the NASDAQ index today. From a big picture point of view, traders used the recent pullback as an opportunity to establish long positions at attractive levels.<\/p>\n If NASDAQ manages to settle above the 50 MA at 14,930, it will move towards the next resistance level, which is located in the 15,200 \u2013 15,300 range.<\/p>\n Dow Jones<\/a> moved higher amid a broad rebound in the equity markets. Today\u2019s rebound was broad as just two Dow Jones components were moving lower.<\/p>\n The nearest resistance level for Dow Jones is located in the 34,500 \u2013 34,600 range. In case Dow Jones climbs above the 34,600 level, it will head towards the next resistance at 35,000 \u2013 35,100.<\/p>\n For a look at all of today\u2019s economic events, check out our economic calendar<\/a>.<\/p>\n<\/div>\n<\/div>\nDow Jones<\/h2>\n