With key earnings being releases next week, the Nasdaq is flushing more to the downside.
Nasdaq runs from the 100 day MA
The NASDAQ index is now down -1.61% or -251 points at 15350.76.In the process, the price is running away from its 100 day moving average of 15489.71 and the 50% midpoint of the 2024 trading range at 15508.22. Bearish.
Shares of Nvidia are breaking and falling away from the 50-day MA at 841.39. The price has not traded materially below the 50 day MA since November 2023.
Next week, is pivotal with a number of large-cap stocks reporting including.
Monday:
- Verizon
- SAP
Tuesday:
- GM
- Tesla
- Visa
- Texas Instruments
Wednesday:
- Boeing
- AT&T
- General Dynamics
- Meta Platforms
- IBM
- Ford
- Chipotle
- ServiceNow
Thursday:
- American Airlines
- Caterpillar
- Southwest Airlines
- Bristol-Myers Squibb
- Microsoft
- Alphabet
- Intel
Friday
- Exxon Mobil
- Chevron