U.S. Stock Futures Mixed as S&P 500 Heads for Losing Week; DJIA Gains Momentum
U.S. stock futures displayed mixed movement in pre-market trading as major benchmark indices set up to close out a choppy week. Dow Futures rose 168.00 points (+0.32%) to 52,598.00, continuing to show relative strength. S&P 500 Futures edged up 11.25 points (+0.14%) to 7,802.25, while tech-heavy Nasdaq Futures slipped 20.75 points (-0.07%) to 30,123.00.
Dow Jones Industrial Average
The Dow Jones Industrial Average bounced strongly off its daily EMA 100 ($51,701.43) and has maintained an upward trajectory following its earlier recovery from the daily EMA 200 (50,456.37) and the 50,500 psychological support zone. The index closed the previous session up 556.21 points (+1.08%) at 52,177.69. Provided there is no sudden shift in broad market sentiment, bullish momentum is expected to push the index higher toward upper resistance channels.
Taiwan Semiconductor Manufacturing Company Ltd. (TSM)
Taiwan Semiconductor Manufacturing Company Ltd. (TSM) are testing an ascending bullish trendline on the daily chart, with price action showing early signs of a bounce off support. The stock closed down 1.80% at $422.25, hovering just below its daily EMA 100 ($424.04). If buyers step in to drive an immediate upward push, a continuation of the broader uptrend remains on the table. However, if selling pressure forces a sweep below the trendline support, price action could extend lower to test the daily EMA 200 near $391.91.