Wall Street mixed on strong earnings, but benchmarks weighed by global growth concerns

• S&P 500 SPX down by 0.1% to 2,639.
• Dow Jones Industrial Average, DJIA, lower by 27 points, or 0.1%, to 24,576.
• Nasdaq Composite was up 0.2% to 7,026.

Wall Street was a mixed bag on Thursday. On one hand, prices were buoyed by better-than-expected corporate earnings. However, on the other, global growth concerns were weighing on investor risk appetite on Thursday and sent the S&P 500 SPX down by 0.1% to 2,639, the Dow Jones Industrial Average, DJIA, lower by 27 points, or 0.1%, to 24,576. The index bucking the trend was the Nasdaq Composite that was up 0.2% to 7,026.

On corporate news, American Airlines Group Inc stood out as investors cheered strong earnings reports but the ECB meeting was a reminder to investors that there is plenty to be concerned for. Also, Sino/US relations continue to keep investors sidelined, with Commerce Secretary Wilbur Ross saying that the U.S. was "miles and miles" away from a trade agreement with China.

DJIA levels

• Support levels: 24325 24119 23934
• Resistance levels: 24716 24902 25108

A dojo has formed on the daily charts within a series of consolidative sticks for the week. The 50% Fibo is a strong confluence support level and target of which the index has yet to break still. However, we have a hanging man on the weekly sticks and a doji on the daily sticks, followed by a bearish close the prior day and a neutral close on Wednesday lacking upside conviction. A continuation of the downside in the index will target 9th Jan swing high at 24025.