Dow Futures Tick Sky-High as Indices Continue Historic Defeat
28 Sep 2022
The Dow Jones Industrial Average rose by 0.18% to 29,188.08 on Wednesday 28 September
By 19:00 ET DOW JONES FUTURES were down by 0.2%, S&P 500 Futures tumbled 0.2% and Nasdaq 100 Futures fell 0.3%. Nasdaq: CALM (Cal- Maine Foods Inc) down by 0.6%, despite reporting Q2 EPS of $2.57, while revenue was reported by $658.30 million and expected was $605.10 million
Apple (AAPL) retreated a day after launching the new iPhone 14 and other products, Tesla (TSLA) is the only way that moves toward the 200-day MA right now
Today’s weakness in the European market occurs because the people’s bank of China cut the repo rate and increased cash injections into the economy, a major driver of economic growth which has been hit hard by Covid-19 lockdowns
After the market close, DocuSign (cybersecurity firm Zscaler software specialist) reported better than expected quarterly results, ZS stocks popped overnight.
LONG-TERM TECHNICAL ANALYSIS
This daily chart indicates that Dow jones was trading in a down channel, currently, it is trading below all SMA. RSI is in the selling zone which indicates bearishness, and MACD is below zero which indicates bearishness.