- Most major markets closed for May 1
- ADP (NASDAQ:ADP) Job Report +180K
- ISM Mfg. Index 55
- FOMC Rate Decision
S&P 500 (SPY)
The stock market will try to resume its record gains today, and with the futures pointing to a higher, it seems it may be the case. 2,960 may be the next level of resistance for the S&P 500. It gets harder to figure these levels out daily given there are no overhead resistance levels. But I’m basing 2,960 off the channel the index has been rising in.
S&P 500, spy
Apple Inc (NASDAQ:AAPL) is the big story this morning rising following results to around $212. The key here is that the stock is trading above resistance at $209. It sets up a move to about $217.
Advanced Micro Devices Inc (NASDAQ:AMD) is also rising this morning following its results, and Cowen raised its price target on the stock to $36 from $33. The stock is hovering below crucial resistance at $29.40, should the stock rise above that level it has room to run to $31.50.
NVIDIA Corporation (NASDAQ:NVDA) is rising this morning along with AMD, and the next significant level of resistance comes around $185.25 with the potential for the stock to increase to about $198.
NXP Semi (NXPI)
Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) will try to rally again today following yesterday significant rise. The stock stalled out at resistance around $106 and could be on its way to $115.
Skyworks Solutions Inc (NASDAQ:SWKS) an Apple supplier, will report results tomorrow night and its next level of resistance comes around $93.70, with the potential to rise to about $100.
Square Inc (NYSE:SQ) will report results tonight, but the chart suggests the stock may fall with the potential to around $65.50.
Stock Market Will Attempt To Resume Record Gains Today
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