US Markets
- S&P 500 Futures +9 points
- US 10-Year 1.7%
- VIX 17.01
- Oil $55.81
- Dollar Index 99.22
International Markets
- Shanghai Composite -0.92%
- Hang Seng +0.53%
MACRO
South Korea (KOSPI)
The Kospi has been pulling back in recent days after failing at resistance at 2,107.
Hong Kong (EWH)
Hong Kong has given back nearly all of its early September gains.
Germany (EWG)
Germany is also now trending lower.
S&P 500 (SPY (NYSE:SPY))
S&P futures are pointing to a slightly higher opening for the S&P 500 by roughly 30 basis points. For now, the index will face some resistance at 2975. That is where the index will run into a level of resistance and a downtrend. It will be an important level to watch. A break out starts the next move higher; a failure sends the index lower towards 2935.It also appears that the number of stock above their 50-day moving average still has some further to fall.
STOCKS
JD (JD)
JD.com is bouncing some this morning off of support at $27.50, but this stock is beholden to headline risk, and that makes reading the charts nearly impossible. Resistance comes at $29.35.
Alibaba (NYSE:BABA)
Alibaba (NYSE:BABA) is in the same mess, with support at $166.50 and resistance at $179.75.
Twitter (NYSE:TWTR)
Twitter has broken the uptrend and support at $43, a drop below $40.35 sets up a steeper decline to $36.50.
Shopify (NYSE:SHOP)
Shopify needs to get above $315 to avoid a retest of support at $285.
Microsoft (NASDAQ:MSFT)
Microsoft (NASDAQ:MSFT) continues to trend higher, but it is also struggling to rise above $142. Watch for the trend higher to continue in the days and weeks ahead, with an eventual break out above $142.
