It will be a big week with the FOMC meeting on Wednesday, along with quadruple witching on Friday. It means volume levels are likely to be high, as will volatility. 

S&P 500 

The S&P 500 (SPY) closed out the week at 3,340, right on support. The uptrend has been smashed, and momentum has shifted from higher to lower. I think this week, we see more losses with a potential decline to around 3,260. 

Nasdaq 100

The Qs (QQQ) also have broken their uptrend, and I think that the trend is bearish over the medium-term, with the potential for the ETF to drop even further with a $250 target over the next few weeks. 

Apple

Apple (AAPL) is sitting on support at $108, and the RSI has swung from bullish to bearish momentum. Apple has a bunch of gaps that need to be filled from its post-earnings run, as the convexity squeeze has ended. I think it deflates further to around $96.50, working to fill the gap. 

Amazon

Amazon (AMZN) went out sitting on a support level at $3,100. I noted an article I wrote up for Forbes that I thought it was going to break to $2,800.It may not happen all this week, but that is where I think it goes over the next few weeks.  (Free story – Amazon Nears A Technical Breakdown That May Send The Shares 15% Lower)

Microsoft

I also noted in this story for Forbes why I think Microsoft (MSFT) is heading lower, as it breaks its uptrend and heads towards $198 and then potentially $187. (Free story – Microsoft’s Stock May Fall Another 10%)

AMD

AMD broke support at $79, and the next level does not come to around $72, which would allow it to fill the gap. 

Square 

Square (SQ) is very close to breaking its uptrend, and I think it does. Once that trend line breaks, the stock should deflate, with the first stop at $118. 

Twilio 

Twilio (TWLO) is very close to breaking its support level at $218, and is likely on its way lower towards $181, as momentum on the RSI continues to trend downward. 

DocuSign 

Docusign (DOCU) broke its uptrend and is now at support at $188, and is likely on its way lower towards $160. 

Nvidia

Nvidia (NVDA) is very close to a big breakdown and should it fall below $460 that break down begins. I think the stock falls to $425, but on its way much lower.