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NASDAQ Index, SP500, Dow Jones Forecasts: US Indices Consolidate Amid Disappointing Earnings; Home Sales In Focus
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Intel and Visa's earnings disappoint, yet U.S. stock futures hold firm, spotlighting upcoming Core PCE and Home Sales data for economic cues.
Key Insights
- U.S. stock futures remain stable despite Intel and Visa disappointing revenue. Market attention turns to upcoming economic data.
- The S&P 500 consolidates, while the Dow awaits critical levels and the NASDAQ encounters resistance in its technical outlook.
- Investors closely monitor the Core PCE Price Index and Pending Home Sales data for insights into economic health.
U.S. Stock Futures Hold Steady Amid Intel and Visa Concerns
U.S. stock futures are steady as Intel’s disappointing revenue outlook and Visa’s tepid sales guidance weighed on investor sentiment. This comes after a week of gains in which the main indices on Wall Street reached record highs.
Intel’s first-quarter revenue forecast of $12.2 billion to $13.2 billion, below Wall Street projections, dampened the mood. Additionally, Visa’s prediction of a slowdown in net revenue growth contributed to the cautious sentiment.
In addition to corporate news, the market’s focus remains on economic data, with the Core PCE Price Index and Pending Home Sales figures expected later during the U.S. session. These indicators will provide further insights into the health of the economy and influence market direction.
SPX SP500 Price Forecast
In today’s daily technical outlook for the Dow Jones on January 26th, the current price stands at 37,998.75, with a four-hour chart timeframe. Key price levels to monitor include the pivot point at $37,875.74, immediate resistance at $38,012.04, followed by $38,111.16, and $38,235.07. Immediate support can be found at $37,733.25, with further levels at $37,615.86 and $37,499.97.
Technical indicators reveal the 50-day Exponential Moving Average (EMA) positioned at $37,790.57, while the 200-day EMA stands at $37,220.08.
Observing chart patterns, the Dow Jones continues to consolidate within a trading range of $38,000 on the upside and $37,800 on the lower side. A noteworthy point is the completion of the 23.6% Fibonacci retracement, with closing candles above this level indicating potential bullish momentum. However, a failure to breach the $38,150 level could trigger a downtrend towards the 38.2% support at $37,733 or lower.
NASDAQ Price Forecast
In today’s NASDAQ daily technical outlook for January 26th, the current price stands at $15,510.50, focusing on the four-hour chart timeframe. Key price levels include the pivot point at $15,605.21, immediate resistance at $15,728.41, followed by $15,858.84, and $15,989.28. Immediate support levels are situated at $15,387.82, with further levels at $15,264.63 and $15,155.93.
Technical indicators reveal the 50-day Exponential Moving Average (EMA) at $14,982.68, and the 200-day EMA stands at $14,235.95. Chart analysis indicates that the NASDAQ has been consolidating around the $15,550 level and retraced to the first 23.6%. Candles above this level suggest a weakening bearish bias, but a bearish engulfing candle on the 4-hour timeframe raises concerns of a potential downtrend.
In conclusion, the NASDAQ’s overall trend is bearish below $15,605.21, with short-term expectations hinging on its ability to breach specific resistance levels in the days ahead.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Arslan Aliauthor
Arslan is a finance MBA and also holds an MPhil degree in behavioral finance. An expert in financial analysis and investor psychology, Arslan uses his academic background to bring valuable insights about market sentiment and whether instruments are likely to be overbought or oversold.
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