Quote from Nick on 28th July 2026, 1:10 pm

Technical analysis for 28th July 2026

Overnight, technology shares came under heavy pressure after reports that Chinese manufacturers have made significant progress in domestic chip-making equipment, raising concerns about future competition for established semiconductor leaders. ASML and other chip-related stocks were hit hard, while investors continue to digest the implications of massive AI spending ahead of earnings from Microsoft, Meta, Apple and Amazon later this week. At the same time, the sharp fall in oil prices has continued following the pause in US-Iran hostilities, easing inflation concerns but doing little to support equity sentiment. Markets are now focused on tomorrow's Federal Reserve decision.

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