Stocks face uncertainty ahead of earnings, S&P 500 likely to open lower

From Investing.com: 2024-10-23 08:50:00

Stock prices consolidated, closing 0.05% lower after rebounding from intraday decline. Tesla’s earnings report in focus. S&P 500 index likely to open 0.3% lower.

Investor sentiment slightly worsened last week as per AAII Investor Sentiment Survey. 45.5% bullish, 25.4% bearish.

S&P 500 continues to trade sideways, near record high. Nasdaq 100 gained 0.11% above 20,000 level.

VIX reached high of 23.76 on September 6, now fluctuating around 20 level. Lower VIX signals less fear, higher probability of market reversal.

Futures contract remains slightly below 5,900 level. Support at 5,850, resistance at 5,900-5,925.

Stock prices expected to open slightly lower. Key question: topping pattern or consolidation? Short-term outlook is neutral, no justified positions.



Read more at Investing.com: S&P 500: Stocks Face Increased Uncertainty Ahead of Earnings