The Stock Market Will Be Put To The Test On February 8

The U.S. Markets

  • S&P 500 Futures -16
  • 10-Year 2.64%
  • Dollar Index 96.58
  • Oil $52.30
  • VIX 17.32

International

  • Nikkei -2.01%
  • Shanghai – Closed
  • Hong Kong HSI -16bps
  • South Korea KOSPI – 1.2%
  • German DAX -43bps
  • UK FTSE -16bps

Hong Kong

So much for trade war concerns in Hong Kong. Stocks fell sharply lower to start the day. But by days end where flat. This after being closed the past few days.

hong kong hsi

Anyway moving on

S&P 500 (SPY)

S&P 500 is looking for a lower opening again, testing my belief that yesterday was a one and done. Could I be wrong, surely? I could be. I’m not right all the time. But right now the futures are indicating an opening around? Yeah, 2690. So we will see what happens.

sp500, spx

Semis (SMH)

The semis are pointing to a lower open again too, and currently around $98.

semis, smh

Qorvo (QRVO)

But that shouldn’t come as a surprise with Qorvo trading lower following –get this dissappointing guidance from a chipmaker. Notice any trends here? It will be interesting to see if this stock can rally back, it will give us an idea of whether semis are at the bottom or not.  Remember NXP yesterday.

qorvo

Amazon (AMZN)

Amazon is trading lower, and the headlines for Jeff Bezos are getting messy. I do wonder how or if this may affect the stock. The stock is looking lower this morning. Today the stock is trading again below $1600. Not good.

amazon, amzn

AMD

AMD is one chip stock that has not been hot recently and appears to be heading back to $21.

amd

Nvidia (NVDA)

Nvidia is the other and continues to look like it may be heading toward $139.

nvidia, nvda

GM

GM just continues to melt after reporting its results earlier this week. I guess they weren’t as strong as everyone initially thouhgt. I tried to warn you, the options trades said so.

gm

On High Alert

Anyway, watch those levels today, I pointed them all out yesterday! Here are they quickly again

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Disclosure: Michael Kramer and the clients of Mott Capital own NXPI

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when the ...

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