S&P 500 (SPY)
Stocks fell yesterday as expected, but the S&P 500 managed to drop less than 30 basis points to finish lower at 3,370. The SPX managed to drop to around 3,355, and it found a bounce eventually climbing back to 3,375, not entirely closing the gap, but pretty close.
It means that the trend for the market hasn’t changed. I think it means we keep grindin’ higher!
ES Minis
The S&P 500 Futures climbed to a high of 3,379 at 7 PM on Tuesday evening, but then turned lower. So this appears to be the region to watch for now.
Biotech (XBI)
The biotechs are running higher, and they are nearing a pretty big break out at $98, potentially pushing the ETF higher towards $101.
Netflix (NFLX)
I noted today in the midday update that Netflix (NASDAQ:NFLX) was breaking out, and we needed to close above $385, and we did. The next level could be that all-time high. I hear no one mention how this stock is up over 50% just since the end of September. The market is telling you loud and clear what thinks about the coming competition. What competition!?
Pinterest (PINS)
A member asked me to take a look at Pinterest (NYSE:PINS). I have never looked at this one before, so I’ll give it my best shot. The stock failed at resistance around $27, and proceed to fill a post-earnings gap lower. Now the stock sits on an uptrend, and typically once a gap is filled, it follows the previous trend; in this case, the long-term trend has been lower. So I think it heads lower still towards $21.50.
Alibaba (BABA)
Alibaba (NYSE:BABA) is one sturdy stock that holds the line, and I think it is getting ready to make that jump back to $230.
Skyworks (SWKS)
How bad could the Apple (NASDAQ:AAPL) news be when Skyworks (NASDAQ:SWKS) falls by just 2%. This has gaps to fill all over the place; I’m still looking for that one up at $128.
Apple (AAPL)
Apple was strong yesterday, and it seemed like a typical day for the stock. It found support around $311 and never looked back. Why can’t it fill the gap up at $325? It seems reasonable.
