- Shanghai Composite +0.69%
- Hong HSI +0.52%
- Japan Nikkei +1.52%
- South Korea Kospi +0.88%
- Germany DAX -0.43%
UK FTSE -0.85%
Stocks in China stabilized overnight with the Shanghai Composite holding some critical levels of support around 2,920. With a gap to fill, there is a good chance the index can rebound further in the coming days back to around to 3,065.
S&P 500 (SPY)
The S&P 500 is pointing to a decline to the start the day. But the index has a lot of positive momentum coming out of yesterday’s rally. At this point, resistance comes around 2,940, while support is about 2,915.
S&P 500, spy
Housing Index (HGX)
The housing sector HGX is nearing a pretty big break out should it rise above $316 it would send the index towards $326. The index has been essential to track in recent months, leading stocks down and then up. A break out would be a very bullish sign for the broader market. I can’t emphasize this enough, this is a much watch leading indicator.
Apple (NASDAQ:AAPL) is trading slightly lower this morning, but we can see that the uptrend is still in strong, and as long as that holds the stock is likely to continue to trend higher, with the trend towards $217.
Netflix (NASDAQ:NFLX) will try to resume its uptrend and its push towards $400. The stock has been very impressive in recent days holding support around $378.
Intel (NASDAQ:INTC) fell apart after results, and to this point, $50.50 appears to be support for the shares. The stock may see a minor rebound to around $52.50.
I’m growing more concerned over NVIDIA Corporation (NASDAQ:NVDA). The chart doesn’t look good, and the RSI is breaking down. I had thought the stock was heading back to around $198, but it seems that may not happen now, with the chances for the stock decline to about $150 rising.
Boeing (NYSE:BA) is starting to show sign of a stock that may be breaking down and may be heading lower towards $$350;
Shanghai Composite Likely To Rebound In Coming Days
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