What is Visa's Earnings/Guidance Going to Tell us About the Consumer?
Also, Both the S&P 500 and the NDX 100 Stand at KEY Resistance Levels.
Both the S&P 500 and the NDX 100 are close to testing the 50% retracement level of the February-April decline. However, since 50% retracements frequently halt bounces in a bear market, we’re going to have to see more upside follow-through for this development to be seen as a positive one. In other words, the action over the next week or two should be extremely important for the stock market.
Visa (V) reports earnings tonight. As important as the tariff issue has become, the outlook for the consumer is still vitally important (and now…the two issues are starting to become intertwined). Thus, although the reaction to the earnings/guidance from several of the Mag 7 names will be very important, they won’t be the only ones that could have a big impact on the broad market this week.
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