5 Big Tech Names I’m Watching


We’ll see if we retest or break the SPX 3619 low. And if it breaks, what’s the next level below? Those are questions I’m asking.

We will go day by day, week by week, and month by month to find opportunities on all time frames.

The euro is making new 20-year lows vs. the US dollar, which is pressuring Europe and the overall tape. We'll see if SPX can hold 3738 and go green. We’ll also see if energy names hold in, or if they topped with oil. The FOMC minutes are Wednesday and the jobs numbers hit Friday.

Now let's dig into 5 big tech names I'm watching:

AAPL isn't special but it's been decent to trade the past two weeks. Foxconn came out with some positive statements. Maybe AAPL worlds today. It needs to hold $135.60. If it gets and stays below that, it will hurt sentiment and will give clues of more downside.

TSLA will be important today. The deliveries weren't worse than expected, but also weren't great. The stock hasn't been special since April. See if it holds the $667 area and goes green, or if it gets sold. Clearing $690 will help tech.

AMZN is a concern with all the retail problems. It went green first Friday. Maybe it goes today vs. $105.85. If it can't hold that, then $101 is the hey macro spot into earnings season in a few weeks.

GOOGL splits July 15. It broke $2303 to stop some out. See if it can hold the $2132 pivot. Otherwise the door opens the door for lower prices and negates the right shoulder.

META led the market lower this year. Last week Zuckerberg said things were slowing down faster than he ever saw. On Friday, it didn't make a lower low so we'll see how it handles $154-$155 for clues on sentiment.

Scott's Positions Disclosure:

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