Stocks managed to regain yesterday what they lost in the final hour of trading Tuesday. I’m not sure that much changed though from the recent trends. It just seems as if the weaker dollar may have added some fuel back to the risk-on trade. Perhaps it has become as simple as that.
S&P 500
The SPDR S&P 500 (NYSE:SPY) index did manage to rise back to and test the break of the rising wedge yesterday; it did find resistance at that level. Unfortunately, it also probably means we fill that gap lower today.
Technology
The Technology Select Sector SPDR® Fund (NYSE:XLK) could never get past resistance in the $114 zone, which I think maybe a big deal, especially if we trade lower today.
Square
Square just continues to hug that trend line higher; at some point, it’s going to break. When it does, $117 seems to be the next stop.
It took longer than I thought it would be Zoom finally got my $227 target.
AMD
Advanced Micro Devices (NASDAQ:AMD)’s trading makes little to no sense some days, and yesterday was one of those days. I’m curious to see what happens today. It seems the support level is at $75, but the question is which way is the trend.
Cisco
Cisco (NASDAQ:CSCO) plunged after hours from weaker guidance and news their CFO was retiring. The stock found some support at $45.50. I’m not sure that there is anything special about that place, so there may be some more downside to the stock.
