Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 12172.38 with take profit at 12254.20
Bearish Preference:
A Sell position is envisaged if the price trades below 12001.29 with take profit at 11932.49
Fundamentals:
No major Fundamentals
Comment:
Over 100 companies in the S&P 500 deliver results as the earnings season gets into full swing. Microsoft (NASDAQ:MSFT), the fourth of the U.S. megacaps, has already reported results. Its cloud business hit Wall Street targets, but it delivered a lacklustre forecast that offered little cheer to the broader tech sector. Tech companies generally are under pressure to grow while cutting costs ahead of a potential recession. S&P 500 earnings are set to have fallen 2.9% from the year-ago period, according to Refinitiv IBES data as of Tuesday.
Analysis: SCRUM Team
