Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Stocks Drop, But Real Risk Comes Later This Week

By Michael KramerETFsJan 08, 2020 12:13AM ET
www.investing.com/analysis/stocks-drop-but-real-risk-comes-later-this-week-200497109
Stocks Drop, But Real Risk Comes Later This Week
By Michael Kramer   |  Jan 08, 2020 12:13AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

S&P 500 (SPY)

Stocks were unimpressed by the better than expected ISM non-manufacturing reading of 55. It was only mildly better than estimates for 54.5. Meanwhile, the report revealed some weakness in the employment component, which has me feeling a touch nervous, heading into the job report on Friday. Still, growth seems to be fine, with the ISM reading corresponding to growth of 2.2% for the fourth quarter. A weak unemployment print could be the most significant risk to the equity market at this point.

It seems like at this moment, the S&P 500 is just marking time waiting to make its next move.

S&P 500 Daily Chart
S&P 500 Daily Chart

Western Digital (WDC)

Well, the options traders did it again, with Western Digital (NASDAQ:WDC) having a huge day, rising by over 7% following that upgrade this morning. The next level of resistance comes around $75.65.

Wester Digital Daily Chart
Wester Digital Daily Chart

Square (SQ)

The options traders had a good day with Square (NYSE:SQ), too, making them two for two on the day. The stock popped above the downtrend, and so did the RSI. I think that sets up a move to $67.35.

Square Inc Daily Chart
Square Inc Daily Chart

Micron (MU)

The options guys were even betting on Micron (NASDAQ:MU) late last week too. An increase above $58.65 sends the stock to $61.40.

Micron Tech Daily Chart
Micron Tech Daily Chart

Twitter (TWTR)

I mentioned Twitter (NYSE:TWTR) yesterday in the mid-day updates, and based on the setup, the stock looks like it may be about to go higher.

Twitter Inc Daily Chart
Twitter Inc Daily Chart

Beyond Meat (BYND)

Beyond Meat (NASDAQ:BYND) finally popped, and now it may on its way to $100 and eventually fill that gap.

Beyond Meat Daily Chart
Beyond Meat Daily Chart

Original Post

Stocks Drop, But Real Risk Comes Later This Week
 

Related Articles

Tim Knight
10 ETFs - Gaps And All By Tim Knight - Jun 23, 2022

Below are ten ETFs. In the caption for each, I’ve made some remarks. As always, click on any chart for a screen-filling version of it.1. ARK Gen Revolution ETFARK Genomic...

Stocks Drop, But Real Risk Comes Later This Week

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Copec Harkonnen
Copec Jan 08, 2020 4:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Havent you been covering MCD lately?
jim boblooch
jim boblooch Jan 08, 2020 5:56AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
thx
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email