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We have mostly red arrows around the world as central banks remain hawkish in a tough fight against inflation. Powell's remarks at Jackson hole saying it will take some pain and sacrifice brought out sellers. The SPX sliced below 4144 and 4120 to make a low of 4056.

This morning it's getting some downside follow-through. I'd think 3980-3990 holds (around the 50 day) if we get there.

I’d use 5-15-30 minute lows to buy against for tactical cash flow. Pressing the morning could be tough with the Oscillator -60.

AAPL did a Red Dog Reversal sell Friday around $170.14 to get some out and it hit a low of $163.56. $159ish is gap support below to measure. Or use a 5-15-30 minute low. Watch this for clues for today.

MSFT hit a high of $294 and then stopped most out around $289 when the accelerated trend broke. On Friday it hit a low of $267.98. I’d cover some. Maybe there's a trade vs. a 5-15-30 minute low if this market wants to find some footing today.

AMZN stopped most out around $140.78 Now it's just a tactical trade.See if there's a 5-15-30 minute low to trade against. It's in the post-earnings gap that is open down to the $123 area.

GOOGL broke its ascending channel to stop most out around $119ish. It did lag on that June bounce. It made a low of $110.19 Friday. Maybe there's a trade vs. the $108 area.

META is still very challenged and might make new lows. $154 is a big area. $159.77 is micro support.

NFLX had a great post-earnings sequence from $216 to hit a high of $251+ with lots of pivots to play for cash flow. Most sold into strength or used $241 as a stop. On Friday it did a Red Dog Reversal around the $234 pivot and hit a low of $223. $217ish is pretty big support. We'll be tactical here.

Scott Redler Positions Disclosure

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