Chart of the day - US100 (29.10.2021)

US index futures pulled back following the close of the Wall Street cash session yesterday. Weak Q3 earnings reports from Apple and Amazon contributed to a deterioration in moods. Both companies missed sales expectations while Amazon also missed profit estimates significantly. Supply chain issues as well as rising labour costs were named as reasons behind weaker performance. Supply bottlenecks are expected to last into the next year what makes the outlook for an upcoming holiday season bleak for two companies. However, both companies managed to perform well in their secondary businesses in Q3 (services for Apple and AWS cloud for Amazon).

Apple (AAPL.US) 

• Revenue: $83.36 billion vs $84.85 billion expected

• EPS: $1.24 vs $1.24 expected

• Services revenue: $18.28 billion vs $17.64 billion expected

• iPhone revenue: $38.87 billion vs $41.51 billion expected

• After-hours trading: -3.5%

Amazon (AMZN.US)

• Revenue: $110.81 billion vs $111.6 billion expected

• EPS: $6.12 vs $8.92 expected

• Amazon Web Services revenue: $16.11 billion vs $15.48 billion expected

• After-hours trading -4.0%

Nasdaq-100 (US100) managed to reach a fresh all-time high yesterday but failed to sustain the move. The index failed to break above the 15,700 pts resistance zone for the third time. Risk of a downward correction is rising and should we see one, the first major support to watch can be found in the 15,350 pts area. This zone is supported by the lower limit of market geometry, previous price reactions as well as 100-period EMA on H$ interval.

Source: xStation5