NASDAQ / Potential Direction During Earnings Season
Updated
NASDAQ Analysis: Potential Direction During Earnings Season
The NASDAQ recently broke out from an ascending trend line but has since reversed. Given the earnings season, we can anticipate increased volatility as companies report their quarterly results, which will significantly influence market direction.
Bullish Scenario:
If the price can stabilize above the pivot line at 20,080, we could see a move towards the resistance levels at 20,385 and 20,725. Sustained stability above 20,800 might drive the index higher towards 21,000.
Bearish Scenario:
If the price fails to hold above the pivot line and stabilizes below 20,086, it could signal a bearish trend. A close below this level, especially on a 4-hour candle, may drive the index down to the support levels at 19,845 and potentially further to 19,625.
Key Levels:
- Pivot Line: 20080
- Resistance Levels: 20385, 20724, 20800
- Support Levels: 19845, 19625, 19530
Earnings Season Impact:
Given that we are in the earnings season, the market reaction to company reports will play a crucial role. Positive earnings surprises could push the index higher, while disappointing results could lead to a sell-off. Keep an eye on major earnings announcements and guidance for the upcoming quarters, as these will be key drivers for the market's next direction.
The NASDAQ recently broke out from an ascending trend line but has since reversed. Given the earnings season, we can anticipate increased volatility as companies report their quarterly results, which will significantly influence market direction.
Bullish Scenario:
If the price can stabilize above the pivot line at 20,080, we could see a move towards the resistance levels at 20,385 and 20,725. Sustained stability above 20,800 might drive the index higher towards 21,000.
Bearish Scenario:
If the price fails to hold above the pivot line and stabilizes below 20,086, it could signal a bearish trend. A close below this level, especially on a 4-hour candle, may drive the index down to the support levels at 19,845 and potentially further to 19,625.
Key Levels:
- Pivot Line: 20080
- Resistance Levels: 20385, 20724, 20800
- Support Levels: 19845, 19625, 19530
Earnings Season Impact:
Given that we are in the earnings season, the market reaction to company reports will play a crucial role. Positive earnings surprises could push the index higher, while disappointing results could lead to a sell-off. Keep an eye on major earnings announcements and guidance for the upcoming quarters, as these will be key drivers for the market's next direction.
Note
🔴Trump's Taiwan talk rattles Wall Street as chip stocks tumbleGeopolitical risks weighed on Wall Street on Wednesday after U.S. presidential candidate Donald Trump sounded lukewarm about defending Taiwan, sending chipmakers' shares lower and helping propel gold prices to record highs.
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