US Stock Market Today [2024.07.25]: Price Action Sector Analysis and Stocks to Watch for Google, Nvidia, Tesla, AT&T, Visa

Hi, welcome to our US stock market today article series.

We will use a top-down approach in our analysis. First, we will analyze the overall market, focusing on the S&P 500. Then, we will analyze each sector one by one for their price action performance so we can trade stocks in those sectors with confidence. Finally, we will look at some stocks to watch today.

Economic Events Today

These events include important news that could impact the stock market, macroeconomic reports, and economic indicators. For more details, you can check the bloomberg calendar & yahoo finance.

• 8:30 ET: the GDP (QoQ) for Q2 will be released. The forecast is 2.0%, and the previous quarter was 1.4%. The GDP measures the yearly change in the value of all goods and services made in the economy, adjusted for inflation. It’s the main indicator of economic health. If the GDP is higher than expected, it usually boosts (bullish) the USD, while a lower reading usually hurts (bearish) the USD.

Stocks with Earnings:

S&P 500

The S&P 500 was going up but has now pulled back to a support level. If this correction is over, we can expect the price to start rising from this support. However, if the price breaks below this support, it may continue to drop to the next support levels.

Consumer Staples Sector(XLP):

The Consumer Staples sector was consolidating, then it broke above the resistance level but fell back down. Now, the price has pulled back to the resistance level again. If the price breaks above this resistance, we can expect it to keep rising. But if it pulls back again, it may drop to the next support level.

Energy Sector(XLE):

The Energy sector broke above the resistance and started rising, but then it began to drop again and is now consolidating. We can expect the price to drop to the support level before pulling back. If it breaks below that level, it may keep dropping. However, the price could also start going up from where it is now, so watch for breakouts.

Materials Sector(XLB):

The Materials sector is consolidating. On the 1-hour chart, the price is at a support level. If the price breaks below this support, it could continue dropping to the next support level before pulling back. However, it could also start going up from this support. So, watch for both reversal and breakout signals.

Industrial Sector(XLI):

In the Industrials sector, the price reached a resistance level and then pulled back. It broke through two support levels and is now trading below them. We can expect the price to continue dropping to the next support level before possibly pulling back.

Consumer Discretionary Sector(XLY):

The Consumer Discretionary sector opened with a gap down and is now nearing a support level. We can expect the price to start going up from this support, but if the price breaks below this support, it could drop even further.

Healthcare Sector(XLV):

The Healthcare sector is trending up. After reaching a resistance level, it pulled back to a support level and started going up again. We can expect the price to reach this resistance. If it breaks above, the price may continue rising. However, it could also pull back, so watch for both reversal and breakout signals.

Financials Sector(XLF):

The Financial sector is in an uptrend but recently pulled back from a resistance level and is now at a support level. We can expect the price to start going up from this support. If it breaks below this support, the price may continue dropping.

Technology Sector(XLK):

The Technology sector is dropping sharply. We can expect the price to reach the support level shown on the 1-hour chart before pulling back. If that level is also broken, the price may continue dropping.

Communications Sector(XLC):

The same story applies to the Communication sector. The price is currently below a support level, and the next support is far away. We can expect a pullback around its current level, but if the price breaks below, it may go to the next support.

Utility Sector(XLU):

Looking at the Utilities sector, it pulled back from a resistance but is now going back up. It even broke above a resistance level. We can expect the price to continue rising to the next resistance level before pulling back again. If that resistance is also broken, the price may keep going up.

Real Estate Sector(XLRE):

Looking at the Real Estate sector, it’s trending up. It reached a resistance level, started dropping, and is now just below a support level. If the breakout is real, the price may continue dropping to the next support level before pulling back up, or it could start going up from where it is now.

Stocks to Watch Today

Google(GOOG):

Google beat its earnings estimate and is currently at a support level. We can expect the price to start going up today. If the price drops below this support level, something might be going on, so watch out for that.

Nvidia(NVDA):

Nvidia broke below the 120 support level. We can expect the price to drop to 100 before pulling back, but it could also start going up since it’s a popular stock.

Tesla(TSLA):

Tesla missed its earnings estimate, and the price is nearing a support level. We can expect the price to pull back from this support and start going up, or if it breaks below this support, it may continue to drop.

Visa(V):

Visa met its earnings estimate by just 0.07%. Right now, it is nearing a support level. We can expect a pullback here, and the price may start going back up. However, if the price breaks below this level, it may start dropping further.

AT&T(T):

AT&T has been in a bearish trend for over 20 years. If something is in a trend, it usually stays that way unless something changes. Right now, the price is nearing a resistance level. We can expect the price to pull back and start dropping from this level, or it could break above the resistance and start going up to the next resistance levels.

Conclusion & Disclaimer

Please provide your feedback on how we can improve this article. Thank you!

We discussed these sectors and markets because when the entire market or sector goes through certain movements, most of the stocks within that market will also experience similar movements. So, by understanding what the market is doing, you can conduct your own analysis on specific stocks.

These analyses are here to help you understand how to analyze the market. They’re not about giving buy or sell signals. It’s simply about observing price action market behavior. I don’t recommend when to buy or sell because trading doesn’t work that way. You need a strategy to guide your decisions about when to enter or exit positions. That’s the key to making consistent profits in the financial markets over time.

The information provided in this market analysis is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any securities or investments.

All investments involve risk, and past performance is not indicative of future results. The analysis provided may not be suitable for all investors and should be used at their own discretion.

Readers are encouraged to conduct their own research.

Trading and investing in financial markets carry inherent risks, including the risk of losing invested capital. It is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

GOOD LUCK✌!!!