S&P Global Services PMI comes in better than expected, and stocks are off of major resistance levels. Google and Microsoft report earnings after the bell.
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Got some flash PMIs here this morning. They came out better than expectations. S&P Nasdaq off of major resistance. But before we get to it, if you’re watching this video like it, subscribe if you’re on our website, there’s also a link to direct you to YouTube.
You can subscribe that way. We’d love for you to follow us. We love really help us build our following. Yeah. So S&P Global Services came in better than expectations 50.9 versus 49 and a half. You know, looking at, you know, Nasdaq, the S&P Nasdaq’s off of our rare major four star resistance that we put out in our daily research.
S&P is off of three star resistance. So keeping an eye on these level is going to be really important later today, 12 Central Standard Time. We have a two year no action in earnings after the bell. We have Alphabet, Google and we also have Microsoft. So collectively, those two make up about nine and a half percent or so of the S&P, of the Nasdaq, about 13 and a half percent weighting.
So a lot that’s definitely going to move the indices here tomorrow. We have housing data, new home sales, building permits as well. And Thursday, we’re going to get durable goods, GDP. So there is a lot of data here this week, a lot that can really move these markets. Keeping an eye on the technical is going to be really important.
Again, we’re off of major four star resistance looking at the Nasdaq here today and that level 14 eight five 2 to 14 890. Looking at the S&P, we’re off of major three star resistance there, 40 to 79 and a quarter to 42, 84 and three quarters looking at gold is seeing some dollar strength here today. Again, better than expected PMI fueling some strength in the dollar.
So seeing a little bit of weakness here in gold today, it’s kind of looking like we’re starting to see a connection between dollar strength again, you know, potentially yields and the gold market. So 1994 and 4/10 to 1997 and 6/10, it’s going to be a three star resistance level to pay attention to crude oil. Seeing some weakness here today, kind of think that it’s definitely the war premium that was initially baked in, starting to see that dissipate a little bit.
We haven’t really seen anything escalate too much here as of yet as far as geopolitical tensions are concerned. So major for star support for crude oil is going to be 81, 28 to 8180. Reach out to our trade Desk if you have any questions. We’re here for you. Remember, futures trading involves substantial risk of loss is not suitable for all investors.
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