US Stock Market Today [2024.07.30]: Key Levels and Trends for S&P 500 Sectors and Stocks to Watch – Microsoft, PayPal, AMD, Pfizer, and Disney

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.

• 10:00 ET: The CB Consumer Confidence Index will be released. The forecast is 99.7, down from the previous 100.4. The Conference Board’s Consumer Confidence Index shows how confident consumers feel about the economy. When consumers feel positive, they spend more, boosting economic growth. If the reading is higher than the forecast, it usually supports (bullish) the USD. If it’s lower than the forecast, it usually hurts (bearish) the USD.

Stocks with Earnings:

S&P 500

The S&P 500 is trending down. On the one-hour chart, the price found support and pulled back, now consolidating at that level. There is resistance above. If the downtrend continues, the price might break below the support and move to the next support level. If the price breaks above the resistance, we can expect it to start an uptrend and move to the next resistance level.

Consumer Staples Sector(XLP):

The consumer staples sector is trending up and is currently near a major resistance level. We can expect the price to either continue rising and pull back around that resistance or break above and keep going up. Watch out for a breakout.

Energy Sector(XLE):

The energy sector seems to be in an uptrend, making higher lows. The price is now near a resistance level. If the price breaks above this resistance, it may continue up to the next resistance level, but expect some pullbacks. Also, watch out for the price dropping to the support level and breaking below it, which would signal a bearish trend.

Materials Sector(XLB):

The materials sector is mostly consolidating. Right now, the price is pulling back up from support and nearing a resistance level. We can expect either a reversal or a breakout at this resistance. If the price breaks above this level, we can assume it’s starting an uptrend.

Industrial Sector(XLI):

The industrials sector is trending up as it broke above the major resistance level and is now trading around that level. We can expect the price to either move to the next resistance and pull back or break above and continue going up. Also, watch out for the price breaking below the support level.

Consumer Discretionary Sector(XLY):

The consumer discretionary sector is pulling back again and is likely in an uptrend. If this is true, we can expect the price to break above the resistance level and continue to the next major resistance, possibly pulling back or breaking above to continue its upward momentum. However, watch for the price breaking below the current support level, which would signal a bearish phase.

Healthcare Sector(XLV):

The health care sector is trending up, and the price is near a major resistance level. We can expect the price to either break above this resistance and continue up or reverse from this resistance and drop to the next support level. Wait for the breakout to confirm the trend.

Financials Sector(XLF):

The financial sector is trending up and is currently between support and resistance levels. If the price breaks above the resistance, it will continue to go up, but it might also pull back from that level. If the price drops to the support, it can either reverse from there or break below and continue to drop.

Technology Sector(XLK):

The technology sector is trending down and is currently consolidating around a resistance level. To confirm the trend, we need to see the price break this consolidation. If the price breaks above the resistance, we can expect it to end the downtrend and start going up. If the downtrend continues, we can expect the price to break below the support and continue dropping to the next support level.

Communications Sector(XLC):

The communication sector was trending down but now seems to be back on an uptrend as it found support and is pulling up. Currently, it’s at a resistance level. We can expect the price to break above and continue going up, but also watch for a reversal around this level. Watch for breakouts at the support levels, as these signal bearish moves.

Utility Sector(XLU):

The utilities sector is trending up and is currently at a resistance level. Two scenarios could happen: either a breakout or a reversal. If the price breaks above the resistance, we can expect it to continue up to the next resistance level. However, the price could also reverse and drop to the support level, so watch out for both possibilities.

Real Estate Sector(XLRE):

The real estate sector is trending up. On the 1-hour chart, it’s consolidating and nearing resistance. If the price breaks above this level, we can confirm it’s heading up. However, it could also reverse, so watch out for that.

Stocks to Watch Today

Microsoft(MSFT):

It’s Microsoft earnings day! With all the hype around AI, Microsoft still plays a key role in cloud computing and tech overall. If they meet their earnings, we can expect the stock price to go up. Microsoft is trending up and currently trading just below a support level, making it a stock to watch today.

When choosing a stock, don’t just focus on fundamentals. Think like a regular person. If you know the company is doing a good job, it’s likely a good buy, even if you don’t know much about stocks.

Paypal(PYPL):

It’s PayPal’s earnings day, and they nailed it! They surprised everyone by beating the estimate of $0.99 with $1.19, a 20.25% increase. In premarket trading, the stock is high, but the real price is sitting around support. PayPal is likely going for a bull run today.

AMD(AMD):

AMD is nearing a support level and reporting earnings today. If people expect positive earnings, we can see the price rebound and start going up from this support. If they think earnings will be bad, the price might break below the support. AMD still plays a crucial role in the silicon industry, making it an important stock to watch today.

Pfizer(PFE):

Pfizer reported positive earnings today, and the stock is slowly picking up. Currently, the price is at a resistance level. Since it beat the estimate, we can expect the price to continue going up today.

Walt Disney(DIS):

Walt Disney is at a major support level, with earnings coming this Wednesday. Deadpool and Wolverine made a huge impact in the cinema industry, and I’m singing “bye bye” and dancing like deadpool after seeing the movie. Since the overall sentiment is positive for the company and earnings are expected to be good on Wednesday, we can expect the stock to start an upward trend. This makes Disney an important stock to watch today. Bye bye bye!

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✌!!!