NASDAQ 100
The NASDAQ 100 futures traded down about 1% yesterday, following last week’s sell-off, and the futures find these sitting on the uptrend, which has been so critical to this big rally.
To this point, this uptrend has held, despite being tested multiple times over the past few days. A break of this uptrend would be horrible news and would likely send the futures down another 5.5% to around 10,
At this point, the RSI is now moving lower and suggesting more decline for the NASDAQ 100.
Tesla
Tesla (NASDAQ:TSLA) didn’t get into the S&P 500, at least during this round, and the stock is trading lower in Germany, with a dollar equivalent of around $390, which is down from Friday US close of $418.
A drop below $390 sets up a decline to about $372. The $372 level is essential because there is no support after that until $331.
{0|Apple}}
Apple (NASDAQ:AAPL) also traded lower in Germany yesterday, to $119.29 in USD equivalents, and the stock needs to stay above that $115 level of support. I continue to think it is like heading lower towards $109.
Amazon
Amazon (NASDAQ:AMZN) traded down by about 1% in Germany yesterday, but the level of comes at that uptrend, with a break likely resulting in a drop to $3,100.
{0|AMD}}
Advanced Micro Devices (NASDAQ:AMD) had a tough week, and this week isn’t likely to be any easier, with the potential to drop back to $71.70.
