The week of March 23 is going to be a wild one again after a horrible last week. The options market is suggesting that the SPY (NYSE:SPY) rises or falls by 9.3% from the $230 strike price, based on the long straddle options strategy for expiration on March 27. It puts the ETF in a trading range between $208.60 to $251.40.
S&P 500 (SPY)
The S&P 500 saw a low of 2,270 on Wednesday, and that maybe the big level to watch this week, with a break below 2,270, sending the index to around 2,190. The following level of support comes around 2,080, and the lower bound of the trading range being suggested by the options market.
Apple (AAPL)
Apple (NASDAQ:AAPL) fell below support at $235, and that means the stock is likely to continue falling towards $225.
Amazon (AMZN)
Amazon (NASDAQ:AMZN) broke the uptrend this week and is now sitting on support at $1825, with the next level of support coming around $1760.
Roku (ROKU)
Roku (NASDAQ:ROKU) has been trending higher, but is approaching resistance at $81, and the break of that uptrend sends the stock lower back towards the lows at $58.
JPMorgan (JPM)
JPMorgan (NYSE:JPM) is trading above an essential level of support at $81, with a break sending the shares lower to $71.
Boeing (BA)
Boeing (NYSE:BA) is now trading below $102 and is likely to move even lower to $70.25.
PayPal (PYPL)
PayPal (NASDAQ:PYPL) is nearing support at $85.60, and a break of that support could send the stock lower towards $74.50.
