This week’s economic data indicated that the economy is still strong and jobless claims continue to drop. Investors and traders did not like that too much so the markets sold off.
This week all eyes will be on the CPI data coming out Wednesday morning. For the Fed to hold steady with no more foreseeable rate hikes, we will need to see some continued weakening on the inflation front.
- AAPL –Sept 12 iPhone 15 announcements. Apple usually sells off after an event but it already had a big sell-off last week so who knows where it will go. $180 looks like a top for now.
- AMZN – looks like it is ready to break out. Watch $143.5.
- BA – Bounced off 200-day SMA support at around $209. Could be support.
- DELL – breaking higher and continues to look strong.
- INTC – breaking higher and continues to look strong.
- NVDA – $440 still looks like good support after earnings for a put sale there as a bullish bet it will hold.
- TSLA – broke out Monday on a big upgrade. Watch $280 for resistance.
- XLE – pulling back Monday but still in an uptrend.
DELL – long ~$70.
XLE – long
NVDA – long $445
Note: These are investments I am in or watching however, they may not be suitable for all investors. The author of this email is NOT an investment advisory service, a registered investment advisor or a broker-dealer and I do NOT undertake to advise clients or recipients of this email on which securities they should buy or sell for themselves. This email is provided for information purposes only and traders should always consult with their licensed BIDO financial advisors and tax advisors to determine the suitability of any investment.