US futures roll over after dire Meta earnings

Market chart
Matt Simpson financial analyst
By :  ,  Market Analyst

An -18% drop for Meta Platforms (formerly Facebook) during aftermarket hours is not something to be ignored, and it was promptly noted by traders as the Nasdaq and S&P E-mini futures markets fell accordingly. And as this has occurred as both futures markets hit resistance levels is also worth taking on board, as we continue to remain a little suspicious of recent rallies on lower volumes. We therefore strongly suspect swing highs have formed for US indices, at least over the near-term.

 

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