The Bottom Line:
- Tesla’s downtrend amid lower highs and lows
- Key data including JOLTS job openings report coming out
- Market volatility predictions for big data release
- Fed speakers and speeches ahead of Jerome Powell’s talk
- Expectations for Tesla’s Q1 2024 production and deliveries numbers
Tesla’s Downtrend Analysis
Tesla’s Downtrend Analysis
Tesla has been on a bit of a downtrend recently, making lower highs and lower lows over the last few days. The key factor that will affect Tesla’s trend is its deliveries numbers. The market is watching closely to see what Tesla’s numbers will look like, especially since the expectations are around 430,000 deliveries. If Tesla surpasses these expectations, we could see a move to the upside, potentially reaching at least 185 or higher. However, if the delivery numbers fall short, particularly below 415,000, Tesla’s stock could experience significant downside, possibly dropping below 160.
Market Analysis for Tomorrow
The upcoming data release includes the JOLTS job openings report, which is crucial for understanding job trends and the Fed’s policy decisions. Additionally, factory orders data will be released, along with various speeches from Federal Reserve officials, building up to a speech by Jerome Powell on April 3rd. This data and speeches could impact market volatility and direction, so it’s important to pay attention to how the market reacts.
Technical Analysis on Market Indices
For the SPY, there has been a shift in sentiment as the VIX shows signs of strength. Today, there was a notable rejection at the 521 level, indicating potential bearish momentum. If this level is broken, further downside towards 518 and 515 could be expected. On the other hand, a move above 523 resistance could signal a bullish reversal. Similarly, the QQQ may see a retracement towards the 443 level after hitting the 200 EMA, with potential support at 440. NVIDIA also shows signs of potential weakness, especially if it fails to break above 908, with support levels at 892 and 885 in focus.
Key Data Insights and JOLTS Report Preview
Insights on Upcoming Data and Fed Speeches
The data scheduled to be released includes the JOLTS job openings report, which holds significance for understanding job trends and informing Federal Reserve policy decisions. Additionally, there will be factory orders data along with a series of speeches by Federal Reserve officials, leading up to another speech by Jerome Powell on April 3rd. The information from these data releases and speeches could potentially impact market volatility and direction, making it crucial to closely monitor the market’s reactions.
Technical Analysis View on Market Trends
Regarding the SPY index, there has been a shift in sentiment as the VIX displays signs of strength. Notably, there was a rejection at the 521 level today, hinting at possible bearish momentum. A breach of this level might see further downward movement towards 518 and 515 levels. Conversely, breaking above the 523 resistance could signal a bullish turnaround. Similarly, the QQQ index may experience a retracement towards the 443 mark after touching the 200 EMA, with potential support levels at 440. NVIDIA also shows indications of potential weakness, especially if it fails to surpass the 908 level, with support levels around 892 and 885 coming into focus.
Market Volatility Predictions for Major Data Release
Analysis of Market Volatility Expectations
Tomorrow, on April 2nd, 2024, significant data releases are scheduled, with most data coming out 30 minutes after the market opens at 10:00 a.m. Eastern Standard Time. Key reports to watch include the JOLTS job openings report, which plays a crucial role in understanding job trends and influencing Federal Reserve policies. Additionally, factory orders data will be released, along with speeches from various Federal Reserve officials leading up to a speech by Jerome Powell on April 3rd.
Technical Evaluation of Market Indices
In terms of market indices, observations suggest a shift in sentiment, particularly evident in the SPY index. A rejection was noted at the 521 level, indicating potential bearish momentum. Should this level be breached, further downside towards 518 and 515 could be anticipated. On the flip side, breaking above the 523 resistance might signal a bullish reversal. The QQQ index is likely to see a retracement towards the 443 level after touching the 200 EMA, with possible support at 440. Similar indications of potential weakness were seen in NVIDIA, especially if it fails to surpass the 908 level, with support levels hovering around 892 and 885.
Upcoming Fed Speakers Agenda Before Jerome Powell’s Address
Insights on Upcoming Federally-Speaking Agenda
Tomorrow, on April 2nd, 2024, significant data releases are scheduled, with most data coming out 30 minutes after the market opens at 10:00 a.m. Eastern Standard Time. Key reports to watch include the JOLTS job openings report, which plays a crucial role in understanding job trends and influencing Federal Reserve policies. Additionally, factory orders data will be released, along with speeches from various Federal Reserve officials leading up to a speech by Jerome Powell on April 3rd.
Technical Evaluation of Market Indices Movements
In terms of market indices, observations suggest a shift in sentiment, particularly evident in the SPY index. A rejection was noted at the 521 level, indicating potential bearish momentum. Should this level be breached, further downside towards 518 and 515 could be anticipated. On the flip side, breaking above the 523 resistance might signal a bullish reversal. The QQQ index is likely to see a retracement towards the 443 level after touching the 200 EMA, with possible support at 440. Similar indications of potential weakness were seen in NVIDIA, especially if it fails to surpass the 908 level, with support levels hovering around 892 and 885.
Anticipated Outlook for Tesla Q1 2024 Production and Deliveries
Overview of Tesla Q1 2024 Production and Deliveries Prediction
Tesla has been experiencing a downtrend recently, with lower highs and lower lows. The focus is now on Tesla’s upcoming Q1 2024 production and deliveries numbers, which are expected to be crucial for the stock’s movement. Analyst expectations for deliveries are around 430,000 units. A positive surprise could lead to a significant upside potential, possibly reaching 185 or higher. However, if the numbers fall below expectations, especially below 415,000, Tesla’s stock may face notable downside pressure, potentially dropping below 160.
Market Outlook and Tomorrow’s Events Analysis
The market is eagerly awaiting the release of several key data sets, including the JOLTS job openings report, which holds importance for Fed policy decisions. Additionally, factory orders data will be revealed along with speeches from Federal Reserve officials, building up to Jerome Powell’s upcoming speech. The impact of these data releases and speeches on market volatility and direction needs close observation.
Technical Assessment of Market Indices
In terms of market indices, there have been notable developments. The SPY index showed a rejection at the 521 level, hinting at potential bearish momentum. A break below this level could lead to further downside towards 518 and 515 levels. On the flip side, surpassing the 523 resistance might signal a bullish reversal. The QQQ index is likely to retrace towards 443 after touching the 200 EMA, with support levels around 440. NVIDIA also displays signs of potential weakness, particularly if it fails to break above 908, with support levels near 892 and 885 being crucial.
