By : Green Horizons
Jordan Daily – Starting this week, Jordan Daily, in partnership with Green Horizons, will release a weekly analytical report on key U.S. market indicators, influencing factors, and market movement forecasts. The report aims to raise investment awareness among global financial market participants.
Green Horizons Weekly Report
10/11/2024 to 15/11/2024
- S&P 500 (SPX500)
Technical Analysis:
- Support Level: 5746 / 5830 / 5885 – a key support level where the index has stabilized in previous weeks.
- Resistance Level: 5970 / 6054 – breaking this level may indicate further upward momentum.
- Outlook: The index appears to be Strong uptrend But its reached high levels , with potential for an increase if it maintains current levels.
- Russell 2000 (RUSS2000)
Technical Analysis:
- Support Level: 2309 / 2360 – the current support floors.
- Resistance Level: 2419 / 2470 – if the index surpasses this level, it may show upward momentum.
- Outlook: The index could face pressure from economic uncertainty, making it susceptible to volatility.
- Dow Jones (US30)
Technical Analysis:
- Support Level: 42785 / 43340 – a solid support level currently.
- Resistance Level: 44040 / 44600– crossing this level would confirm continued upward momentum.
- Outlook: The index is expected to remain in a sideways range with a slight upward tendency, have to be careful because index is on the last range of the price channel.
- Nasdaq 100 (US100)
Technical Analysis:
- Support Level: 20525 / 20780– a crucial support if declines occur.
- Resistance Level: 21050 / 21295– breaking this level could signal a more upward trend.
- Outlook: The index is more prone to fluctuations, particularly due to technology-related news.
News For this week: Several key economic events next week could significantly impact U.S. indices.
- CPI Inflation Report (November 14): The Federal Reserve’s policy orientation will be directly impacted by the October Consumer Price Index (CPI) data, which will provide information on inflation levels. Concerns about sustained high interest rates might result from a higher-than-expected CPI, which would put pressure on stock prices, especially for tech sectors that are sensitive to growth. However, if inflation begins to decline, it might support a possible halt to rate increases, which would raise indices.
- Retail Sales Data (November 15): Consumer purchasing patterns, which account for a significant amount of the US economy, will be reflected in this report. Robust retail statistics may indicate economic resilience, which would boost indices. On the other hand, excessive spending can be a sign of ongoing inflationary pressure, which could cause the Fed to tighten further and affect markets.
Federal Reserve Speeches: A number of Fed members are scheduled to speak next week, which could reveal the Fed’s perspective on rates and inflation. While dovish signals should improve sentiment across indices, hawkish pronouncements could cause sell-offs, particularly in interest-sensitive industries.
Corporate Earnings: A number of major U.S. corporations are scheduled to report their earnings this coming week, which may have an impact on the American indices, especially the S&P 500 and the Nasdaq. Here are some important reports to keep an eye on:
- Alphabet (Google) on Tuesday, Nov. 12: The S&P 500 and the tech-heavy Nasdaq are both impacted by Google’s earnings, so its performance will be widely followed. While any slowdown in advertising could result in downward pressure, strong advertising revenue or growth in Google Cloud could improve market sentiment for the tech sector.
- Home Depot on Tuesday, Nov. 12: The S&P 500 and the tech-heavy Nasdaq are both impacted by Google’s earnings, so its performance will be widely followed. While any slowdown in advertising could result in downward pressure, strong advertising revenue or growth in Google Cloud could improve market sentiment for the tech sector.
- Cisco Systems on Wednesday, Nov. 13: Cisco’s performance has an impact on general tech mood, especially when it comes to corporate IT expenditures. While worse forecast may indicate decreased tech investment, positive results can help tech indices.
- Disney on Thursday, Nov. 14: Disney’s earnings release will offer information about consumer spending in the streaming and entertainment industries. The result may affect the Nasdaq as well as the S&P 500.
These big companies’ earnings releases are crucial because they provide information about important economic sectors like technology, consumer spending, and entertainment, all of which have an impact on overall market mood and possible index performance. Strong tech results, for example, usually push the Nasdaq higher, while companies that cater to consumers, like Home Depot and Disney, have an impact on the S&P 500 as a whole because of their weight in these indices. Market confidence may increase if profits match or surpass expectations; on the other hand, disappointments might cause volatility in all of these indexes.
General outlook for the Coming Week:
- Pay attention to the CPI and other news.
- Pay careful attention to the financial projections and corporate earnings of significant businesses, especially those in the industrial and technological sectors.
- Technical Analysis: Keep an eye out for breakouts or rebounds as indicators for well-informed decision-making, using support and resistance levels as a foundation for analysis.
For more information : https://ghva.tech/
Disclaimer: The information provided in this report is for informational purposes only and does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. Jordan Daily, Green Horizons, and any affiliated advertisers disclaim all liability for any decisions made based on this report. Investors should conduct their own research or consult with a licensed financial advisor before making any investment decisions.
