S&P 500, Nasdaq 100 and Dow Jones forecasts and analysis
- CPI data dumps and US CPI pumps worsening equity markets outlook.
- Tesla, Goldman Sachs, Netflix and Snap all posted next week.
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U.S. stock markets fell and resumed a strong rebound on Thursday. After the latest US inflation reading came out higher than expected The current consensus on the move is that market participants are very short on launch and following the initial sell-off. Buyers appeared to cover their shorts and found coverage more difficult and more expensive. The Nasdaq 100 fell regarding 500 before surging past 700, while the S&P hit a low of 3,490 before the session closed at 3,680 yet. Will have to keep an eye on whether these profits can be kept for the next few days or not. especially when companies began to reveal their third quarter results.
Next week’s earnings calendar is filled with a few prominent names opening their books. Bank of America (BAC) launches ahead of the U.S. market open on Monday. Goldman Sachs (GS) opens pre-market on Tuesday, ready. Johnson & Johnson (JNJ) and Netflix (NFLX) will release numbers following the close, Tesla (TSLA) reports following the market close on Wednesday, while SNAP (SNAP) will release following Thursday’s close. A mix of heavyweight names, especially JNJ and TSLA, all of which can drive sentiment and market prices. The US economic calendar next week is relatively light. This makes Q3 release the main driver.
What is the earning season and what are the things to look for in earning?
The Nasdaq 100 daily chart remains negative despite Thursday’s gain. A series of lower highs and lower lows remain while the three simple moving averages are weighing the indicator….
Nasdaq 100 – Daily Charts
…while the S&P 500 has a very similar setup to the Nasdaq.
S&P 500 – Daily Chart
The retailer data shows 61.33% of traders who bought net with a ratio of traders who bought to short at 1.59 to 1. The number of traders who bought net was 10.90% lower than yesterday and down 2.22% from yesterday. Last week, while the number of net-short traders was 7.60% higher than yesterday and down 6.34% from last week.
Usually, we take the opposite view of the sentiment of the crowd. And the fact that traders have a net long position indicates that the $500 price may continue to decline. The positioning is less net length than yesterday but net length from last week. The combination of current feelings and recent changes gives us Mixed bias in trading 500 more USD.
|
change in |
Longs |
shorts |
HI |
| daily | 7% | -6% | 2% |
| weekly | 4% | -15% | -4% |
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what do you think regarding US index – Bullish or bearish?? You can let us know through the form at the end of the article. or contact the author on Twitter @nickcawley1.
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