Market Rollover: Top Tickers to Watch

September Seasonality

The indexes have been weak, with the Nasdaq rolling over again on Tuesday. Google (GOOGL), Microsoft (MSFT), Meta (META), Broadcom (AVGO), Apple (AAPL), Netflix (NFLX), and more all closed the day in the red, with Amazon (AMZN) leading the way down a stark -4%. News hit that the FTC is suing Amazon for supposed anti-competitive practices, which didn’t help matters. The put/call ratio was also above 1.0 on an intraday time frame, yet again.

An October Shift?

But after September comes October, with the bearish price action plus the high put/call ratio, the market is a ripe environment for a short squeeze. I’ve been eyeing some buys on some top tickers, but with the downside price action, nothing has triggered quite yet. Earnings season is coming soon, and pre-earnings momentum starts right around now. We’ll be in the midst of the October earnings season before we know it!

Critical Support Zones — and What to Do Next

So, where do we go from here? It all depends on if the critical support zones, the indexes, and mega-cap names break or not. I’m still holding out for a buy going into earnings, but that’ll change if these zones can’t hold. If they can’t hold, we could be looking at a big down draft in the indexes, as there isn’t much support left below.

I cover all this and more below:

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Up Next...

Investing in Amazon

During market pullbacks, I like to add to my long-term stock accounts. One of the tickers I’ve been adding more of lately is Amazon (AMZN). Why Amazon? The long-term goal of the stock portfolio is to accumulate enough shares to create an income stream via selling covered calls and creating wealth from the shares themselves. … Read more

Costco to $1,000?

Relative Strength in Consumer Staples Tech darlings remain weak, as is typical for September seasonality, which causes me to search for relative strength elsewhere. Consumer staples are at all-time highs, as relative strength in this space continues to be strong. Of course, I don’t want to buy something already at high, but I want to … Read more

Welcome to September

September is here, and its entrance is dashing hopes that September seasonality came early. As of this writing, the Nasdaq futures are down 2.25%, and the S&P is down 1.37%. What’s interesting about the summer pullback is that semiconductor and technology stocks led it lower. This is critical to mention because these are typically the … Read more