2022/10/26 (097) Technical Analysis – NYSE-BA & CBOT

I`m Not Superstitious But I Truly Believe In It:
Let It Go, As Long It Is Still Good, As Long, As It Is…
That`s Why We Remain Neutral On The Long Side This Week As Well!

Tech Weakness Ends Recovery Rally Today

Growth concerns in the technology sector stalled Wednesday’s recovery rally. Quarterly reports and forecasts from heavyweights such as Microsoft, Google’s parent company Alphabet and chip manufacturer Texas Instruments caused concern among investors. Courses tumbled, especially on the technology-heavy Nasdaq stock exchange. The tech-heavy Nasdaq 100 slipped 2.26 percent to 11,405.90 points. The leading index, the Dow Jones Industrial, held up much better, closing at 31,839.11 points, virtually unchanged. Here, among other things, price gains from Visa supported, the quarterly report of the credit card company was better received by investors. The market-wide S&P 500 lost 0.74 percent to 3830.60 points.

On Tuesday, company reports that were still good and the hope that US interest rates might rise less sharply had further boosted the most important indices and ensured a continuation of the upward trend that had started before the weekend with significant price gains. But now the statements from Microsoft & Co are casting long shadows. The growth of the software manufacturer was weaker in the past quarter than it has been for years, especially the important cloud business is weakening. The papers fell by 7.7 percent. The Alphabet shares collapsed even more sharply at almost 10 percent. That was the biggest daily loss since March 2020. Both tech giants are feeling cost pressures from many corporate customers. So it hits the Google mother hard that many companies cut their advertising budgets. In the wake of the weak statements, many other industry stocks also went down in the middle of the week. Cautious statements by the chip manufacturer Texas Instruments (TI) weighed on the entire industry: While its shares lost 2.7 percent, the shares of Analog Devices, Microchip Technology, Nvidia and AMD were also among the losers. According to TI’s management, weakness across the industry increased as the third quarter progressed.

After the reporting season has so far been quite positive from the point of view of experts, the picture is now possibly clouding over. Investors are therefore eagerly awaiting the next quarterly figures from the sector. After the market closes, Facebook’s parent Meta will open its books, which are already a major concern for investors. Amazon will follow with numbers on Thursday. Both stocks also came under pressure. Boeing shares initially held up well, but then fell significantly by 8.8 percent. They were the biggest loser in the Dow. The aircraft manufacturer again reported a loss in the billions due to a weak arms business and missed market expectations. However, there is good news in the course of the balance sheet: The credit card giant Visa was able to increase revenue and profit in the past quarter, which brought the share price up 4.6 percent at the top of the Dow.
Very Important Price Action Areas
For The Next Days, Weeks And/Or Months

34246 Target Price @ 4XSetUp

33031 01/24/2022 1st New Low this year 2022

32167 02/24/2022 2nd New Low this year 2022

31148 05/12/2022 3rd New Low this year 2022

30585 entry @ long 4XSetUp
if short 4XSetUp get stopped out

30585 05/20/2022 4th New Low this year 2022

30000 Stop Price @ 4XSetUp

29669 09/23/2022 last price @ friday closed

29639 06/21/2022 5th New Low this year 2022

29639 09/23/2022 Entry Price @ 4XSetUp

24675 Target Price @ 4XSetUp

Basically
i’m a constructive realistically optimistic wall street bull.
But, if i am not wrong, the us wallstreet sentiment is still far too positive in relative terms; because the economic data and/or much more worldwide political framework conditions are worse than they have been since the cold war.
So stay kosher – & trade only with entry/exits!The IPO of Mobileye, an Israeli subsidiary of the Intel group, caused a stir. The company develops driver assistance systems that provide warnings to avoid and reduce collisions. At USD 21, the issue price per share was already above the targeted price range. On the stock exchange, the price then skyrocketed to just under $30, which was a good 40 percent more than the issue price. The title closed at $28.97.

Dollar Index Hits Five-Week Low

The dollar index weakened below the 110 mark, a level not seen in five weeks, on speculation that the Federal Reserve would slow the pace of interest rate hikes later this year amid mounting evidence of a sharp economic slowdown. Adding to expectations of a possible pivot was the Bank of Canada’s decision to curb the pace of rate increases, and to deliver a smaller-than-expected 50 bps rate hike. Aside from the policy side, soft US economic data signaled that stubbornly high inflation and tighter financial conditions are already impacting the world’s largest economy. This dollar’s weakness was seen across the board, with some of the most pronounced selling activity against currencies such as the Australian and New Zealand dollars. The greenback also came under heavy selling pressure against the Chinese yuan amid reports of government intervention in currency markets.

The Fight For 30,000 Points In Rhe Dow Jones Stock Market, The Holding Of The 110 Points In The USD Index,
And Or The Meanwhile 4% In The 10year US Yields – That’s Seems What Determines The Price Action At The Moment! Or?

It goes back and forth in the US stock market. The numbers are not great – and in the historical context, there are no reasons to enter the stock market in the medium term, let alone in the long term! However, as short-term speculative trader, as like in our 4XSetUps Trading Capability very much so, it`s a great trading market! Because in the last few weeks and months, apart from during the lockdown, due to the corona virus outbreak, has the mood regarding US Wall Street been worse? I don’t think so – but it’s not about the mood in New York, but rather about the emotional bullish/bearish reaction of the market participants, i.e. all of us who deal (in)directly with WallStreet. And our future expectations. And that all in an economic environment of the highest stagflation since the end of the Cold War, they are as bad as they have been for 40 years (the 1980s, to be precise). That´s why stay cautious about the US stock market! And only get in and out with a concrete competente long tactic, concrete competente short tactic, and/or concrete competente short/long tactic – in these historically very volatile price action times…

US Tech Shares Plummet On Sour Alphabet And Microsoft Earnings

The Nasdaq fell over 2%, while the Dow finished flat, and the S&P 500 declined more than 0.7% as disappointing results from Microsoft and Alphabet sent shockwaves through the tech sector and raised concerns about slowing economic growth. Google-parent Alphabet lost over 9%, its worst day since March 2020, after reporting gloomy ad sales and offering sour guidance for the advertising business. Microsoft dropped over 7% after the tech giant posted its lowest sales growth in five years. Meanwhile, the Dow traded near the flatline, trying to hold gains from the previous 3 sessions on speculation that the Federal Reserve will slow down its aggressive tightening. Today, the Bank of Canada unexpectedly curbed the pace of rate increases with a hike of 50bps instead of the expected 75bps, adding to market bets that the Federal Reserve could do the same later this year.