Instrument: US100+
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11475.86 with take profit at 11512.15
Bearish Preference:
Sell position is envisaged if price trades below 11413.86 with take profit at 11360.94
Fundamentals:
1:30pm USD Core Durable Goods Orders
USD Durable Goods Orders m/
USD Unemployment Claims
Comment:
Alphabet, Microsoft Lead Megacap Selloff Erasing $295 Billion Megacap stocks slide in premarket trading on Wednesday after disappointing quarterly updates from Alphabet and Microsoft Corp, set to wipe off about $295 billion in market value from the biggest US companies. The Google parent said on Tuesday it would slow hiring and control expenses, signaling that it was girding for tough times ahead as the economy falters, while Microsoft gave a lackluster Azure sales forecast. Both stocks were down approximately 6% in premarket trading. The main message is that expenses are being cut back.
Analysis: SCRUM Team