Nasdaq 100, S&P 500 Weekly Forecast: Alphabet, Microsoft and Amazon Earnings Eyed

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Corporate earnings from tech mega-caps Alphabet, Microsoft, and Amazon could guide market sentiment and set the trading tone for the S&P 500 and Nasdaq 100 in the coming week.

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Geopolitical tensions have also ushered in a complex backdrop for the equity market. Israel was attacked by the militant group Hamas earlier this month, prompting Israeli Prime Minister Benjamin Netanyahu to greenlight a robust military response against the aggressors in the Gaza Strip. These chains of events have elevated the political temperature in the region, increasing global risk aversion.

If you're looking for a broader perspective on U.S. equity indices, make sure to download our Q4 stock market trading guide. It's your gateway to a wealth of ideas and indispensable insights.Despite the recent correction, tech stocks have rallied and re-rated sharply this year.

On the flip side, if buyers make a comeback and trigger a bullish reversal from the index’s current position, the first resistance to consider appears at 14,875. Successfully clearing this key ceiling could rekindle upward pressure, setting the stage for a possible rally to 15,200, followed by 15,500.

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