The Bottom Line:
- Market shows bullish accumulation with potential for new all-time highs
- Focus on PCE data report impact on market’s inflationary reports
- Jerome Powell speech to provide insights on monetary policy changes
- Technical analysis indicates bearish outlook for Tesla but bullish potential for N Video
- Stocks like Apple, Super Micro, SOI, Coinbase, Amazon, and meta remain indecisive ahead of upcoming events
Market’s Bullish Accumulation Signals Potential All-Time Highs
Overview of Market Analysis
Spy has shown a bullish accumulation pattern, resembling a cup and handle structure. The market is aiming to break its all-time high, indicating positive momentum going into next week.
Importance of Tomorrow’s Data Release
Despite the market being closed on Good Friday, significant data is set to be released, such as the PCE data report at 8:30 a.m. EST. This data, along with Jerome Powell’s speech later in the day, could potentially impact market trends come Monday, April 1st.
Technical Analysis on Specific Tickers
While Spy demonstrates bullish technicals, Tesla appears bearish with potential support levels identified. Furthermore, analysis on other tickers like QQQ, Apple, NVIDIA, Super Micro, Coinbase, Amazon, and Meta provides insights on potential movements based on key support and resistance levels.
Impact of PCE Data Report on Market Inflationary Trends
Insights on the PCE Data Report and Market Inflationary Trends
Analyzing the upcoming PCE data report release and its potential impact on market inflation trends is crucial. The expected range for the PCE data report lies between 2.5% to 2.4%. Comparisons with previous CPI data suggest a cautious approach due to the possibility of the PCE data showing similar or higher values than anticipated.
Considerations for Tomorrow’s Market Behavior
With the stock market closed for Good Friday, attention shifts towards evaluating the repercussions of significant data releases like the PCE report and Jerome Powell’s speech. Understanding the implications of these events can provide insights into potential market movements come Monday.
Technical Analysis on Select Tickers
Detailed technical assessments of various tickers, such as Tesla, QQQ, Apple, NVIDIA, Super Micro, Coinbase, Amazon, and Meta, unveil diverse patterns and potential support/resistance levels. These analyses offer valuable perspectives on how these tickers might behave in response to upcoming events and data releases.
Insights from Jerome Powell Speech on Monetary Policy Changes
Insights on PCE Data Report and Market Trends
The upcoming PCE data report release is expected to impact market inflation trends significantly. Anticipated values range between 2.5% to 2.4%, with comparisons to previous CPI data indicating a need for caution due to the potential for similar or higher figures in the PCE report.
Considerations for Tomorrow’s Market Dynamics
As the stock market remains closed for Good Friday, focus shifts towards analyzing the potential implications of key data releases like the PCE report and Jerome Powell’s speech. Understanding the outcomes of these events can offer valuable insights into potential market movements when trading resumes on Monday.
Technical Analysis on Selected Tickers
Detailed technical evaluations of various tickers, including Tesla, QQQ, Apple, NVIDIA, Super Micro, Coinbase, Amazon, and Meta, reveal distinct patterns and critical support/resistance levels. These analyses provide valuable perspectives on how these tickers might respond to upcoming events and data releases.
Technical Analysis: Tesla Faces Bearish Outlook, N Video Shows Bullish Potential
Overview of Technical Analysis on Select Tickers
Tesla is currently showing a bearish outlook with potential support levels noted. The chart indicates a downward trend, with support expected at 175 and a further drop likely towards 174 if this level is breached. Factors influencing Tesla’s movement include Jerome Powell’s speech and PCE data, as well as upcoming delivery numbers.
Q1 Delivery Numbers Impact on Tesla
Anticipating the Q1 deliveries report for Tesla coming out on Tuesday following the holiday weekend, significant movements are expected based on whether Tesla trends bullish or bearish. A bullish sentiment could lead to a robust increase in value, while a bearish turn might result in a decline to around 166 or below.
Technical Analysis on NVIDIA
NVIDIA’s chart appears relatively flat and indecisive, hinting at a pending significant market reaction. A bullish scenario could see a break above 908 post Jerome Powell’s speech, potentially aiming for 925. Conversely, a bearish trend might emerge upon breaking 892, leading to declines towards 885 and further down into the 870s.
Indecisiveness Surrounds Apple, Super Micro, SOI, Coinbase, Amazon, and Meta Ahead of Key Events
Indecisiveness Surrounds Apple, Super Micro, SOI, Coinbase, Amazon, and Meta Ahead of Key Events
For Apple, the chart indicates a bearish trend with lower highs and lows recently. Support levels at 177.9 and 170 are crucial, while resistance lies at 172.5. The stock seems to be range-bound, waiting for external factors like inflationary data and Jerome Powell’s speech to determine its next move.
Super Micro’s chart shows indecisiveness as well, with potential testing of support around 98.0 if a downtrend resumes. On the bullish side, breaking past 120 could lead to a climb towards 150, signaling a significant move in either direction.
SOI remains range-bound, fluctuating between 7.5 resistance and 7.25 support levels. This stagnant price action suggests a lack of clear direction, urging patience in analyzing any potential breakouts.
Coinbase displays a wedge pattern, reflecting indecision in the market. A breakout above the 50 EMA might see the stock aiming for 272, whereas a breakdown below the 20 EMA could trigger a decline towards 260 or lower.
Amazon is experiencing a slight decline, with support at 1792 being crucial. A further drop could lead to a test of the 178 level, while a bounce off support may propel the stock back towards 180.
Meta appears bearish with a downward trend at present. Resistance around 488 is key, and a breakthrough could push the stock to 494. Conversely, losing support may result in a decline towards 480, indicating a need for caution with this stock.
