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US stocks end lower on US data, earnings reports

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - US indexes ended the day with losses, as adding to poor local data, the earnings season kicked in with Netflix plunging 14%, as the company reported less earning than expected per share.

    The Dow Jones closed 0.92% lower at 16,924.75, whilst the Nasdaq lost 0.29% and the S&P ended 0.47% lower.

    DJIA technical view


    “The daily chart for the DJIA shows that the index extended its retracement from its 100 DMA, while the Momentum indicator holds at overbought levels, but the RSI indicator has already turned south, anticipating a continued decline around 58”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the 20 SMA turned south around 17,067 whilst the technical indicators are bouncing from near oversold levels, but remain well below their mid-lines. The index has bounced some from the 23.6% retracement of this month’s advance, yet further declines below 16,886, the daily low, should lead to further falls, towards the 38.2% retracement of the same rally at 16,721”.

    Support levels: 16,886 16,823 16,721. Resistance levels: 16,948 17,030 17,090.
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