US Stocks Talking Points:

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US Stock Futures Fall as Fed Expectations Rise

S&P 500, Nasdaq 100 and Dow futures are buying and selling decrease as Dollar power returned to markets. With the latest transfer triggered by Friday’s NFP (non-farm payrolls) report, price expectations and recession dangers proceed to drive sentiment.

While the Federal Reserve stays fixated on attaining worth stability, surging wage development and a resilient labor market has contributed to rising inflation. As Fed officers keep a hawkish narrative, larger yields and USD power continues to threaten the expansion trajectory for shares.

Monitor central financial institution bulletins by way of the central financial institution calendar

Although market individuals proceed to regulate to adjustments within the basic backdrop, technical ranges have supplied a further catalyst for worth motion.

S&P 500 Technical Analysis

After a powerful rebound off the October low at 3502 triggered a two-month rally that allowed bulls to drive worth motion right into a barrier of trendline resistance holding at 4110. With S&P 500 futures buying and selling inside the confines of a falling wedge, a rejection of this degree has allowed bears to push costs decrease.

As costs hover across the 200-day MA (shifting common) degree of 4047, assist holds on the 61.8% Fibonacci retracement of the 2022 transfer across the 4000 psychological degree.

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S&P 500 Daily Chart

Chart ready by Tammy Da Costa utilizing TradingView

Dow Jones Industrial Average (DJI)Technical Analysis

With Dow futures buying and selling between 34246 and 34463, the uptrend stays intact. As the prolonged wicks signifying vital zones the place bulls and bears collided, worth motion stays in a well-defined vary. While this zone might be crucial for the short-term transfer, a break of 34463 may convey the December excessive into play as resistance at 34707.

Dow (US30) Daily Chart

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Chart ready by Tammy Da Costa utilizing TradingView

Meanwhile, if bears can drive costs under the important thing psychological degree of 34000, a rise of bearish momentum may drive worth motion again in direction of 33700.

Nasdaq 100 Technical Analysis

As Nasdaq futures fall to a day by day low 11850.25, the present month-to-month low of 11740 stays as assist with a drop under permitting for a possible retest of 11500. For bulls to take management, a maintain above 12000 and above 12145 is critical, paving the best way for 12260.

Nasdaq (US100) Daily Chart

Chart ready by Tammy Da Costa utilizing TradingView

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— Written by Tammy Da Costa, Analyst for DailyFX.com

Contact and comply with Tammy on Twitter: @Tams707

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