Mixed performance as Wall Street rises, US Tech 100 and Germany 30 fall
More earnings from US financials, as well as retail data tonight.
Wall Street technical analysis, overview, strategies, and levels
Despite fresh intraday highs and a breach of its previous first resistance level, it was contrarian strategies that won out as its bull trend technical overview continues to stall heavily, the US 500 ending the session slightly higher. Financial earnings were a plus, though it was Goldman Sachs and (non-component) Wells Fargo that outperformed in terms of share price, JP Morgan's profit soaring but its share price underperforming.
More financials (but not components of the index) will be releasing their figures today and tomorrow, component (but non-financial) UnitedHealth expected to announce its earnings today.
As for economic data, there'll be plenty of it today most notable retail sales expected to surge, but also manufacturing and unemployment claims. Housing data tomorrow, as well as sentiment.
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US Tech 100 technical analysis, overview, strategies, and levels
A red day for the tech sector, and in turn a lower finish for the tech-heavy US Tech 100, undoing gains from the day before though its price staying near its previous first resistance level giving contrarian breakouts little to cheer about. Not many of its components were in the green with Incyte and Sirius on top, plenty suffering in the bottom where losses were heaviest for Tesla Inc, MercadoLibre Inc, and PayPal Holdings Inc (All Sessions).
Non-component Coinbase listing took the attention.
As for earnings today amongst the tech-heavy index's components, its (non-tech) Pepsi, general market focus to remain on financials as more of them release their figures today and tomorrow. From a technical standpoint, its price near the highs means most of its boxes continue to flash green, though will take less to shift compared to its bull run into February due to its technicals dragged higher over the past two months.
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Germany 30 technical analysis, overview, strategies, and levels
Day number six of oscillations near the highs, the pullback yesterday failing to reach its previous first support level, and in turn another session where there was a lack of a play, even if downside moves are a welcome sight to retail traders for Germany 40.
Deutsche Wohnen SE and Siemens AG were the outperforming components, most were in the red and where the losses in share price was heaviest for Deutsche Post AG and EON.
There was little available in terms of items out of the bloc, the 30-year German bond auction showing a slightly higher bid-to-cover ratio than last time around.
We'll get final CPI figures that are usually low-impacting shortly, final CPI figures for the eurozone released tomorrow.
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