Tech Gains Ground Before Nvidia's Earnings as Bitcoin Drops Below $90,000: Market Movers for Wednesday
Nvidia Earnings Report: Nvidia Corp. is set to report its third-quarter earnings, which could influence market sentiment as the Nasdaq 100 shows slight recovery, with Nvidia's stock up nearly 2%.
Market Reactions: The S&P 500 experienced marginal gains while the Dow Jones Industrial Average fell 0.2%. Traders are also anticipating the minutes from the October Federal Open Market Committee meeting for insights on the Federal Reserve's future actions.
Energy Sector Developments: GE Vernova Inc. and Constellation Energy Inc. saw significant stock increases of nearly 6% each due to new contracts and a loan guarantee, respectively, while Eversource Energy faced a 9% drop after regulatory setbacks.
Crypto Market Decline: The cryptocurrency market is experiencing a downturn, with Bitcoin dropping below $90,000 and a total market cap contraction from $4.27 trillion to $3.02 trillion, alongside significant losses for major cryptocurrencies like Ethereum and Solana.
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Technical Analysis for ES
Technical Sentiment Analysis for Eclipse (ES) As of , Eclipse (ES) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ES stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ES is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Eclipse (ES) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0333 | 0.0698 | 0.0959 | 0.132 | 0.158 | 0.195 | 0.221 |
| Fibonacci | 0.0698 | 0.0938 | 0.109 | 0.132 | 0.156 | 0.171 | 0.195 |
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