Dow futures down a wee bit but NDX futures down decently. To get more specific:
AMZN remains on defense trading below the 50 day average after disappointing Wall Street. A break below $936 makes things worse.
AAPL remains on defense as worries over the new I-PHONE continue. The stock broke the 50 day on heavy volume this past Wednesday and nothing good since.
GOOGL trades just below the 50 day. Been acting better but that only means it has held up. Needs to jump back above. Next support is important support at $915-$918.
PCLN trades below the 50 day and showing no accumulation so far.
TSLA has been wide swinging recently. Last week’s late action was not thrilling. The stock may be showing a big double top. Really needs to hold the 50 day here and more importantly, the $330 level.
I have brought these names up because of their big influence on the NDX as well as a little bit of the market. It is less than thrilling how they are trading…but the good news, other stuff is working. Refer to the weekend report.
OIL PRICES up again this morning. Energy shares continue to have a relative bid here. We would suggest overbought in here.