SPX & Tech Face Critical Support, Gold Continues Technical Breakout

• S&P 500 futures are lower, crossing below the 50-day moving average, with the major trend line from April lows officially broken.
• Technology sector is in correction territory, with Microsoft trading below its 200-day moving average, indicating distribution.
• Gold futures reached a new all-time high, up 75% year-over-year, as international investors seek hard assets amidst geopolitical uncertainty and potential diversification from the dollar.
• Netflix (NFLX) reported Q4 EPS and revenue beats but provided weak Q1 guidance, leading to price target cuts from analysts.
• United Airlines (UAL) beat 4Q earnings estimates and offered optimistic FY25 guidance, primarily due to strong premium revenue, despite a government shutdown impact.

Equity futures are lower following Tuesday's sell-off, with the S&P 500 breaking a key technical trend line, signaling potential downside. Gold futures hit a new all-time high, reflecting a risk-off tone and diversification away from the dollar. Netflix shares slipped on disappointing guidance, while United Airlines beat earnings expectations, driven by strong premium revenue.