Stock futures unchanged as traders wait for earnings release

Alphabet (GOOG) has reported earnings that beat the market expectation. The company reported eps of $2.12 vs. $1.83 and revenue of $88.27b vs. $86.44 expectation. Despite the strong results and rising stock prices after the report, it seems the stock futures are mostly flat. Traders and investors are waiting for the earnings release from META and MSFT today.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index turned lower again yesterday where it might continue the bearish correction toward the 41,481 or 41,000 levels. Traders will wait until the bearish pressure subsides and bullish reactions happen near the support level to confirm a bullish continuation. No change to the bullish trend yet as the market structure stays bullish.

First Solar Inc (FSLR)

FSLR share prices formed a lower swing high and lower swing low since June 2024. However, the overall long-term trend stays bullish if we take a look from November 2023. At the current time, the share prices are trading near the daily SMA 200 where it might produce bullish reactions. Traders could wait for strong bullish reactions to enter long positions.