5 Big Tech Names You Need to Watch


We have mixed markets around the world with an upbeat feel. Europe has green arrows and Asia is a bit muted.

Last Friday, the markets took the hot jobs report in stride as SPX held 4107. Lots of sectors acted well to extend the active sequence intact from the June lows. We have the CPI on Wednesday. Stay nimble, take trades, and try not to get caught up in opinions. You need to avoid revenge trading and pain trades. 4167 is last week’s high.

I don’t think we’ll hit new highs this year, but 4220 can happen in the weeks ahead.

We'll go day-by-day to measure the action.

Now let's go through 5 big names we should all be watching:

TSLA went from $760 to $940 the past few weeks. Many traders got stopped out as it broke $915 to see a low of $856. We'll see if the early strength holds today. I'd approach it slowly.

AAPL led the move off the June lows to see a high of $166.59. It held in pretty well Friday, giving us the $163 area to trade against. I wouldn't chase this open, that but that doesn't mean it's an easy short.

MSFT was a great trade from $260 to $283+. I sold mine. It acted fine Friday and some bought the dip. Today it's above $283.80. I’d trim into strength and buy dips.

GOOGL lags a bit but I bought some calls early last week and some stock in case it wants to play catchup. It needs to hold $116. A strong move on volume above $118.78 and $119.69 will open the door for higher prices.

META held $154-$155 and got out of the danger zone as it cleared $165 to see $172.50+. I put on a call spread for this Friday. We'll see if it tries to play catch-up. It needs to clear $172 with power for that.

Scott's Positions Disclosure:

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