DAX Check during the most eventful earnings week of the year

The Fed's decision is due on Wednesday. Apple and Amazon earnings follow on Thursday and the July jobs report on Friday.

Welcome to the most eventful earnings week of the year. Here's which companies will be reporting:

Tuesday: Microsoft (MSFT), BP (BP), Electronic Arts (EA), JetBlue (JBLU), Marathon Petroleum Corporation (MPC), Pinterest (PINS), Pfizer (PFE), Procter & Gamble (PG), Starbucks (SBUX)

Wednesday: Meta (META), Boeing (BA), Carvana (CVNA), Humana (HUM), The Kraft Heinz Company (KHC), Mastercard (MA), Paycom (PAYC), Qualcomm (QCOM)

Thursday: Apple (AAPL), Amazon (AMZN), Booking Holdings (BKNG), Canada Goose (GOOS), Coinbase (COIN), ConocoPhillips (COP), Crocs (CROX), DraftKings (DKNG), Marathon Digital Holdings (MARA), Moderna (MRNA), Roku (ROKU) SiriusXM (SIRI)

Friday: Chevron (CVX), Exxon Mobil (XOM)

News:

Putin has issued a nuclear warning over US plans to deploy missiles in Germany in 2026.

The US is holding “ongoing talks” with Israel and Lebanon after a rocket attack killed 12 children in the Golan Heights.

Three Russian warships reached Cuban waters, deepening relations between the two nations.

The new British government declared the country “broke and broken” as it prepared to tackle a deficit in the public finances.

Senator Lummis introduced a bill calling on the US Treasury to buy 1 million bitcoins over a five-year period as a “strategic bitcoin reserve”.

Donald Trump promised to fire SEC Chairman Gary Gensler if elected president in November.  Many crypto enthusiasts see Gensler as anti-crypto.

Company news:

Amazon's Twitch expects changes - and possibly more layoffs.

Volkswagen and Rivian could form a joint venture, according to the German Federal Competition Authority. Andreas Mundt, head of the cartel office, confirmed that no serious competition problems are to be feared.

Colgate-Palmolive raises forecasts for 2024 due to strong demand.

Mercedes lowers margin forecast for cars, quarterly profit down 16%.

McDonald's (MCD +0.21%) has been testing a $5 value menu for a month in the hope of attracting customers.

Other fast-food chains such as Wendy's (WEN -1.12%) and Taco Bell (YUM +0.72%) are following the market leader with their own $5 deals. Pizza Hut says that while they sell pizzas, more customers are opting for the pick-up option.

DAX Technical Analysis

Today in extended trading hours, the DAX briefly fell below the 18,300 level and formed a low at 18,266. Since then, however, as the 15-minute chart shows, we have risen intraday to a current level of 18,400. This level is critical, firstly because it is a psychological level and secondly because this is where the EMA 10 and EMA20 intersect. In view of yesterday's candle and today's opening candle, we are currently dealing with a bottom tweezer, which suggests a renewed rise. I personally like the tweezers formation a lot as it has shown several times that it can give signals for a continuation. We can see the same formation on Thursday and Friday as well as July 9 and 10, and if I go back further, we can spot even more.

The RSI remains at the midline, showing limited strength in all directions, while the Stochastic RSI continues to linger in the lower half and the K-line has just crossed the D-line, possibly signaling an ignition of momentum.

The scenario remains the same as the last few days: the neutral zone is between 18,400, where staying above this level could indicate a bullish bias, and 18,300, where closing below this level could indicate a potential bearish bias.

All in all, we are still optimistic in view of the upward support line. However, if the price closes lower more frequently, the upper resistance line could widen and make an upward movement more difficult.