Tech earnings are wrapping up this week, with Amazon (AMZN), Apple (AAPL), and Alphabet (GOOGL) reporting after the bell on Thursday afternoon. On Friday, the Nonfarm payroll will be released at 8:30 a.m. Eastern.
The S&P 500 (/ES) broke significant upside levels on Thursday after Federal Reserve Chairman Jerome Powell’s speech on Wednesday afternoon. Powell stated the Federal Reserve will raise rates by a quarter point.
/ES closed above its major weekly trendline from last year. Let’s see if /ES breaks higher and continues up or if earnings bring the market lower.
Check out the video above for a breakdown of my critical levels on /ES as it continues higher. I also review levels on /NQ ahead of tech earnings.
Stay Focused!