US Markets

• S&P 500 Futures -10 points
• US 10-year 1.81%
• Dollar Index 97.50
• VIX 16.47
• Oil $58.65

International Markets 

• Japan -0.09%
• HK -0.22%
• China +0.10%
• KOSPI +0.45%
• Germany -1.35%
• UK -0.86%

S&P 500 (SPY) 

Stocks this morning are falling in the US with S&P 500 futures pointing to a 10 point drop. Certainly, nothing to worry about, and substantially filling the gap from Friday’s sharp move higher. Exactly as I expected to happen when I noted it yesterday in my midday commentary and last night’s write-up. 

There is a downtrend that has formed, and that is the line I will be paying the most attention too at the moment. I don’t expect a pullback in the market to last for very long. 

Netflix (NFLX) 

Netflix is falling today after a downgrade by Needham to underperform from hold. It seems they believe the company will lose 4 million subscribers US subscribers in 2020, due to competition from newer services. I find this to be a joke, to be honest. I have Prime, Netflix, Disney+, and Hulu, and I can honestly say that the other three services do not compare to Netflix, I actually also have Apple, but I have never even log-in because it was free. It is a joke; I find it highly unlikely anyone will cancel their Netflix to switch to any of these services only. They simple do not offer enough content to keep me in engaged. Sorry. $295 is support. 

NXP (NXPI)

BofA is raising its price target to $145 for NXPI. If the stock can get over $121, it can move up to $127.

Yesterday, I noted I was seeing bullish options betting Amazon and an improving technical chart. 

Nvidia (NVDA) 

Nvidia continues to fail at resistance at $212. $198 is next. 

Verizon (VZ) 

Verizon is once again testing resistance at around $61. Again, this could lead to an increase to approximately $64 if it can ever break out.