Wild Session Ahead

It looks like it may be a wild trading session today, with futures and foreign markets swinging from losses to gains, back to losses.

It is normal to see the S&P 500 futures swing by 4% from lows to highs. It is beyond crazy, it is insane, and it would suggest that the session ahead here in the US will likely be equally mad.

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Germany 

The German DAX gapped higher at the opening, only to get it to give it all back.

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S&P 500 (SPY)

History has taught us that if the S&P 500 market gaps higher at the open, the same future awaits, with a drop to follow filling the gap. So make sure you are extra careful today.

Again, the only thing I will be watching for today is that the S&P 500 doesn’t take out Friday’s lows of 2,855. As long as we do not breach that level, I don’t care what happens today. – Premium content – Bottom Or Not The Coincidence Seems To Be More Than Chance

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Apple (AAPL)

Apple is rising after Oppenheimer raised its rating to Outperform from Perform and assigned a $320 price target. For now, the stock is hitting up against resistance at $285.

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Alibaba (BABA)

Alibaba jumped higher this morning, but for the moment is failing to get over resistance around $211.

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Mastercard (MA)

Mastercard fell by as much 20% from peak to trough, but it has now broken that nasty downtrend. And for now, resistance comes around $305.

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Twitter (TWTR)

Twitter is rising today after Elliott Management took a sizeable stake in the company and is looking to remove Jack Dorsey. The stock has increased to resistance near $36.50. 

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AMD (AMD)

Finally, AMD is rising back to that all-important region around $46.80. It had been a strong region of support before the sharp pullback. Now it is likely to act as a strong region of resistance, with the potential to rise to around $48.50.

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