Futures tread higher as Alphabet Microsoft results lift megacap

U.S. stock index futures ascended on Friday, buoyed by a resurgence in megacap growth stocks following impressive quarterly earnings from Alphabet and Microsoft. Investors are concurrently anticipating a crucial inflation report, which is poised to influence the direction of U.S. monetary policy.

Technically :

The price initially fell following META's META decline and loss of $ 230 billion $, but gains in MSFT MSFT and Alphabet GOOGL reversed the trend, steering it into an uptrend. As long as the price remains above 38065, it is poised to potentially reach 38320. However, if it stabilizes below 38065, confirmed by a 4-hour candle closing under this level, it will likely encourage a bearish trend targeting 37860 and 37620.

Pivot Line: 38065
Resistance Levels: 38310, 38480, 38565
Support Levels: 37870, 37620, 37480

The expected trading range today is between the support at 37865 and the resistance at 38810.