Stocks Wait For Nvidia, Bonds Lower, Oil Slides

Price chart analysis and commentary

The S&P 500:

The large cap index traded down all day and then, in the last hour, made it back to yesterday’s close. This sideways for four straight days is likely to change as opinions about whether Nvidia will “beat expectations” on their earnings report.

The Nasdaq 100:

The big tech and social media index has traded sideways basically for four days now as investors wait for Nvidia’s earnings report which comes after the close.

The iShares 20+ Year U. S. Treasury Bond ETF:

Bonds refuse to rally and remain below the 200-day moving average as the 50-day heads downward.

The United States Oil Fund:

Price touches the 50-day moving average and then backs away from that level. Now at eight days under that line and about a month under the 200-day moving average. It’s getting to be a long time for the oil market. The support level below is September’s 66 and the resistance is the early October high of just above 79.

The SPDR Gold Shares:

The fund has a gradual but steady three days of upward price movement and has closed at just under the 50-day moving average. It took off in August/September/October and is now consolidating all of that action. Note the upwardness of the 200-day moving average.

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Not investment advice. For educational purposes only.

I write about stocks at Forbes.com.

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