L'Oreal Starting to Rebound on Major Support
L'Oreal has tested the major support zone of 372-390 over the last three weeks and has started to break out to the upside from that zone! The trend remains bullish. Source: Bloomberg
DAX Index Reaching Supply Zone
The DAX Index has now rebounded more than 8% since the lows on August 5th! Keep an eye on the supply zone between 18,430-18,565. Source: Bloomberg
This is the biggest 2-day drop for the Nikkei in history, surpassing Black Monday
Source: www.zerohedge.com, Bloomberg
US earnings: The beat rate is the smallest since 4th quarter of 2022 377 S&P 500 companies (80% of index EPS) have reported, beating consensus by 2%, the smallest since 4Q22.
71%/55%/45% beat on EPS/sales/both Source: BofA, Mike Z.
Booking Holdings Trying to Rebound on Support
Booking Holdings (BKNG US) is trying to rebound on a major swing support zone between 3394-3477. Keep an eye on the close today. Source: Bloomberg
Amazon Under Pressure
Amazon is down strongly after earnings. Keep an eye on the close today; it mustn't close below 166, as this could open the door for a more complex consolidation. The next major support zone is between 144-151. Source: Bloomberg
DAX Index Reaching Major Support Zone
The DAX Index is reaching a major swing support zone between 17,626 and 17,834. This level needs to hold; otherwise, the consolidation that started in May could become more complex and last longer. Keep an eye on this development. Source: Bloomberg
Microsoft Entering Major Support Zone
Microsoft (MSFT US) is under pressure since yesterday's earnings! It's now entering a major swing support zone between 404.51 and 416.75. Keep an eye on whether this level can hold. Source: Bloomberg
