S&P 500 Daily Update for Thursday February 27, 2025

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Summary of the market update for Wednesday, February 26, 2025, and the outlook for Thursday, February 27, 2025:
On Wednesday, the market opened higher but hit resistance at the 50-day moving average and the 6,000 level, stalling momentum. Prices declined after failing to break through resistance, dropping below the unchanged level to yesterday’s S2 support level before closing virtually flat, up 0.01% on slightly above-average volume. This marked an unchanged day, though technically positive. Nvidia’s earnings, released after the close, were strong, but its stock fell 1.5% in after-hours trading, adding uncertainty. The market remains negative in the short and intermediate term (below the 20- and 50-day moving averages), with the 100-day moving average providing support. Interest rates continue to decline amid a flight to safety into bonds, while Mega-Cap stocks underperformed.
For Thursday, anticipation surrounds Nvidia’s earnings reaction and its potential impact on the Mega Caps and the broader market. Key economic data, include Initial Jobless Claims, GDP (second reading), Durable Goods, and Pending Home Sales, could influence sentiment—though GDP may be a non-event unless it surprises. The short- and intermediate-term trends are negative, with the 50-day moving average acting as resistance and sentiment leaning pessimistic. However, the longer-term trend remains positive, supported by the 200-day moving average. Seasonality suggests mixed signals, with February historically weak in post-election years. Conviction appears low, and Thursday’s session will hinge on follow-through from earnings and data.
PDF of Charts and Slides used in today's video:
https://drive.google.com/file/d/12arhSusgctBAEPnGD_LSibBNxOwi2dT-/view?usp=sharing
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DISCLAIMER This video is for entertainment purposes only. I am not a financial adviser, and you should do your own research and go through your own thought process before investing in a position. Trading is risky!