|Day Low/High||81.52 / 85.40|
|52 Wk Low/High||10.10 / 76.88|
If you look at the economy as between service and tech you find the old-guard being overrun.
There is a point where if longer-dated yields move high enough, defensive-minded investors will be drawn from equities to debt securities.
The technical signs for the e-commerce platform and visual discovery platform appear favorable.
This year has probably created long-term changes in the adoption curves for things such as e-commerce and gaming.
I'm not impressed by the markets' moves and they could easily foil even the best plans -- but here's how to position yourself.
There is little reason to anticipate a sustained bounce at this point, but there are positive aspects to the price action.
E-commerce advertising remains strong, and it looks like brand ad spend rebounded sharply as Q3 progressed.
I'd keep my eye on strength outside of earnings, and CRSR has been strong.
Let's review the charts and indicators.
Several sessions over the past 10 days have seen increased trading volume at the NYSE, but not the Nasdaq, and for the S&P 500, but not the Nasdaq Composite. Is this professional risk reduction?
Just take the three most obvious letters in FAANG -- Facebook, Apple, and Netflix -- they were all ideas from my children.
Traders have to know not only if one of their holdings is reporting, but also if an influential name in the sector is reporting.
I expect the indices will jump around again soon on news about fiscal stimulus.
Let's look at the three main ways stocks can go up, and which of those we're seeing in action right now.
They are the charts of the S&P 500 and U.S. dollar, and their patterns could influence most stocks, commodities and currencies.
The pockets of strong movement are very narrow right now.
When markets move lower, price action reveals names that institutions are reluctant to sell.
There are and will continue to be winners and losers as the outmigration from big cities isn't likely to abate anytime soon.
The high dollar nature of the stock will scare some away, but the consolidation over the past two months is too much to ignore.
Let's call it the highest risk time to own stocks since the end of March.
With SNAP and PINS we can't predict what's going to happen, but with a watchlist, we can say, 'if this happens, then I'll respond by doing that.'
The initial target here is $16 with a secondary target of $17.50 on this breakout, with a time frame of a month or less.
While some growth stocks have been bid up to extreme valuations, others could look intriguing if markets see a meaningful downturn.
News out about Microsoft Edge's integration with PINS has helped spur another trade in the name.