Another flush lower in stocks

Technical Analysis

With key earnings being releases next week, the Nasdaq is flushing more to the downside.

Nasdaq runs from the 100 day MA

The NASDAQ index is now down -1.61% or -251 points at 15350.76.In the process, the price is running away from its 100 day moving average of 15489.71 and the 50% midpoint of the 2024 trading range at 15508.22. Bearish.

Shares of Nvidia are breaking and falling away from the 50-day MA at 841.39. The price has not traded materially below the 50 day MA since November 2023.

Next week, is pivotal with a number of large-cap stocks reporting including.

Monday:

  • Verizon
  • SAP

Tuesday:

  • GM
  • Tesla
  • Visa
  • Texas Instruments

Wednesday:

  • Boeing
  • AT&T
  • General Dynamics
  • Meta Platforms
  • IBM
  • Ford
  • Chipotle
  • ServiceNow

Thursday:

  • American Airlines
  • Caterpillar
  • Southwest Airlines
  • Bristol-Myers Squibb
  • Microsoft
  • Alphabet
  • Intel

Friday

  • Exxon Mobil
  • Chevron

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