Overnight Moves

Today, we looked at 13 charts; below are only some of them, but first, let’s have a look at the overnight moves. The moves overnight were mostly quiet, with most things being unchanged or down marginally. Silver and palladium are both to the downside after the nice big push we saw the day before. Tencent is down once again, so expect that to affect Naspers and Prosus.

S&P 500 Index

The levels we had in place for the S&P 500 futures played out nicely, with us breaking past 6,930 and holding for the rest of the session. We now have to see how today’s session goes with the end of the month coming up, so we could see some interesting moves. Our level of resistance will be 7,000, and our levels of support will be at 6,930, 6,910, and then finally at 6,885, where it will hopefully hold if we see increased selling today.

NVIDIA (NVDA)

We have to look at NVIDIA today since they released their earnings yesterday after hours, and it was one of the most anticipated earnings of the week. NVIDIA was a pillar of the market for some time, but in the last five months, we have only seen sideways movement. The numbers on their own were definitely on the positive side, with the company beating on all fronts. The high for the day was $197.63, but in the end, we ended the session 1.41% to the upside. We will have to wait and see how the market moves from here. Our level of resistance to the upside is $200, with support being around $180 for today.

Workday (WDAY)

One stock that really stood out was Workday, which was down at one point by more than 10% but managed to close in the green by 2.24%. This was an incredible comeback with elevated volume, which tells us to watch this one today. If we see this one break $135 and close the gap to $137, that would be a good sign for a potential opportunity all the way up to $190.

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