Chart of the day - US100 (22.01.2025)

Nasdaq 100 (US100) futures are trading another strong session today, extending yesterday's upward momentum by another 0.5%. In addition to the euphoria on Netflix shares, Nvidia (NVDA.US) shares are also trading up nearly 3% in after-hours trading, to $144 per share.

• The increase in after-hours trading is already nearly 15%, and means Netflix will almost certainly open at new historic highs today after the company reported subscriber growth that beat forecasts by nearly 10 million subscriptions, and earnings per share growth of more than 100%, also beating expectations. So far, the earnings season is going favourably for Wall Street, and with the season opening for 'large caps', investors may be back to betting on solid quarterly reports among BigTech companies.
• As a result, we see today that the US100 contract is hitting new local maximums and has decisively broken the previous 'geometry' in recent times. According to the overbalance methodology, the breakout could bring a move, with a potential test of the historical ATH at around 22,150 points. Today, companies outside the Nasdaq will report, including Procter & Gamble, Johnson & Johnson and big oil companies Halliburton and Kinder Morgan. Nevertheless, volatility on the US100 is likely to be elevated, at least until the first week of February, when results from Microsoft (January 29) and Alphabet (February 4), among others, will be announced.

US100 (H1 interval)

Source: xStation5