US OPEN: Wall Street starts upwards after the last cycle of falling sessions

Tuesday's start to the session on Wall Street has been bullish, with the major stock indices bouncing back from yesterday's closing prices, and it appears that the 3-day cycle of declines that were triggered by the uncertainty surrounding the Omicron variant may be over. 

The US500 index is currently trying to climb above the resistance level set by the EMA 50 (blue line). Should the demand side manage to break above the mentioned limit, the next important level would be the 50% Fibo retracement. Significant supports remain the EMA 100 (purple line) and the 23.6% retracement. Source: xStation 5

News:

US index futures are pointing to a break of a 3-day streak of declines, triggered by concerns over the Omicron variant and new lockdowns. Yesterday's losers, i.e. airline companies and cruise lines, among others, are regaining ground after yesterday's sell-off. Royal Caribbean (RCL.US) is up 1.5% before the opening of the session, with Carnival (CCL.US) gaining over 2.5%. United (UAL.US), American (AAL.US) and Delta (DAL.US) are up more than 1%.

The Centers for Disease Control and Prevention communicated that Omicron is now the dominant variant of the COVID-19 outbreak in the US. 

The US Senate will vote on President Biden's bill in January, despite opposition from Senator Manchin. 

Sports tycoon Nike (NKE.US) shot up more than 3.5 per cent before the opening of the Wall Street session after announcing upbeat financial results for the quarter, which came in at 83 cents per share versus an expected 20 cents. 

Nike (NKE.US) shares opened today's US session with a bullish price gap, which broke through the resistances set by EMA 100 (purple line) and EMA 50 (blue line). The nearest resistances remain the zone close to the recent local highs, marked in red. Source: xStation 5

Nikola (NKLA.US), the electric car company, will pay a $125 million penalty imposed by the SEC for misleading investors about the company's products and manufacturing capabilities. The company's shares are up more than 3% ahead of the opening of the session.

US graphics card maker Nvidia (NVDA.US) is up more than 3% ahead of the open after the company was hailed as a top pick by UBS bank.