- China Shanghai -0.69%
- Hong Kong HSI -1.5%
- Japan Nikkei -0.59%
- South Korea Kospi +0.14%
- German DAX +0.48%
- UK FTSE +0.87%
Trading for May 14
Markets in Asia continue to fall on May 14, although South Korea managed to finish higher following a lower start. US stocks are pointing to a higher opening, but these are not the type of opening I like to see following a steep sell-off. It just affords the algo’s an opportunity to push the market lowers after the initial gap higher. I wouldn’t be surprised to see that happen today. The support level for the S&P 500 that I am looking for comes around 2.790, and for now, resistance comes at 2,836.
The biggest problem is that Algo’s are in control, and that is never a good thing. The daily movements have the fingerprints of the machines all over the place.
S&P 500, spy, stocks, market, may 14
Micron (NASDAQ:MU) will be one stock worth watching today at it is nearing support at $36.40. Additionally, the company has plenty of exposure to the trade war. So a move higher that sticks could offer some hope that a bottoming process is being put in place for the entire market.
Despite the stock market’s struggles Advanced Micro Devices Inc (NASDAQ:AMD) continues to look halfway decent, as the stock has held within the channel. My view on the stock is still positive, with the potential to rise to $29.40 and potentially $31.
Apple Inc (NASDAQ:AAPL) has been severely hurt, and it must hold support a $182 or risk a decline to around $174.
apple, stock, aapl, may 14
Alibaba Group Holdings Ltd (NYSE:BABA)’s stock is rising today, but I think the path ahead for the stock is too bearish. Plus the Chinese are now devaluing the yuan, it is not a good scenario for the stock, with $166 on the horizon.
baba, alibaba, stock, may 14
Jd.Com Inc Adr (NASDAQ:JD) is rising too and faces the same external issues as Alibaba. Resistance for the stock comes at $29.30.
jd, stock, may 14
Stocks To Watch As Market Attempts To Rebound
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