FTSE 100, US 500 and US Tech 100 expected to stabilise ahead of Nvidia Q4 earnings
FTSE 100, S&P 500 and Nasdaq 100 expected to stabilise ahead of after hours Nvidia Q4 earnings which are likely to determine the indices’ short-term trend.
FTSE 100 tries to recover from this week’s low
The FTSE 100 tries to bounce further off this week's 8614 low but needs to better Wednesday's intraday high at 8738 in order to revisit its 18 February high at 8788.
Slips may find support between the 21 to 24 February lows at 8690 to 8661.
FTSE 100 daily chart
US 500 bounces off key support
The US 500 briefly dropped to a five-week low at 5909, near its 5912 early February low, before bouncing back.
Tuesday's high at 5996 needs to be exceeded on a daily chart closing basis for the daily bullish hammer formation to be confirmed. In this case the 55-day simple moving average (SMA) at 6007 is expected to be overcome with the 6050 region being next in line.
US 500 daily chart
US Tech 100 awaits Nvidia Q4 earnings
The US Tech 100 has declined for five straight days amid souring sentiment but may try to stabilise ahead of Nvidia's fourth quarter (Q4) after-hours earnings.
A fall through Tuesday's 20,928 low would likely engage the early February low at 20,885 ahead of the major 20,769 to 20,533 support zone which comprises the December to January lows.
Minor resistance sits at Monday's 21,303 low ahead of the 55-day SMA at 21516. The mid-January to current February lows at 5923 to 5909 are expected to offer support.
US Tech 100 daily chart
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