Wall Street mixed and Apple's earnings a relief

• The Dow Jones Industrial Average DJIA, added 100 points, or 0.4%, to 24,628.
• The Nasdaq Composite Index dropped 39 points, or 0.6%, to 7,048.
• S&P 500 index SPX, -0.15% edged up less than a point to 2,644.

Wall Street was a two way street on Tuesday. Investors awaited key earnings reports due after the bell as well as the Federal Reserve and US/Sino trade talks events on Wednesday. On earnings, after the bell, Apple was eagerly awaited following CEO Tim Cook's downbeat assessment of China and sales of iPhones in China. Cook said that Apple is rethinking how they price iPhones outside of the US. Well, revenues of $84.3B vs the $84B estimate were better than expected. Apple's EPS came in at $4.18 vs $4.17 estimate as well. Earnings were also a touch better at $4.18 versus $4.17 estimate.

DJIA levels

The index is capped at the 61.8% Fibo retracement of the Oct 2018 decline, which had resulted in a daily double top on the 17th and 24th Jan. The price has made a lower low on Tuesday and was on the verge of a test of the prior day’s low but fell 65 points short of the level. However, the downside is underpinned by the death cross, (50 crossed below the 200 D SMA mid-Dec) and RSI and MACD that are both leaning with a bearish bias now. A significant correction in the index will now target 9th Jan swing high at 24025. On the flip side, the 25000 round level above the confluence of the 100/200-D SMA and the 61.8% Fibo of the Sep decline will need to give out to avert downside pressures.

• Support levels: 24243 24267 24085
• Resistance levels: 24687 24924 25106

• DJIA

  Overview:
      Today Last Price: 24656
      Today Daily change: 150.00 pips
      Today Daily change %: 0.61%
      Today Daily Open: 24506
  Trends:
      Daily SMA20: 24170.8
      Daily SMA50: 24116.32
      Daily SMA100: 24960.08
      Daily SMA200: 25067.06
  Levels:
      Previous Daily High: 24670
      Previous Daily Low: 24326
      Previous Weekly High: 24858
      Previous Weekly Low: 24246
      Previous Monthly High: 26076
      Previous Monthly Low: 21684
      Daily Fibonacci 38.2%: 24457.41
      Daily Fibonacci 61.8%: 24538.59
      Daily Pivot Point S1: 24331.33
      Daily Pivot Point S2: 24156.67
      Daily Pivot Point S3: 23987.33
      Daily Pivot Point R1: 24675.33
      Daily Pivot Point R2: 24844.67
      Daily Pivot Point R3: 25019.33