U.S. stocks next week 9/7–9/11
Last Friday: the S&P closed at 7718.60, −0.38%; the Nasdaq at 26506.99, −0.29%; and the Dow at 53414.25, −0.51%. For the week, the S&P was about +0.1%, the Nasdaq +0.4%, and the Dow −0.3%. Some gains were given back after the nonfarm payrolls report, and the market is closed on Monday for Labor Day.
Structurally: on Friday, the S&P’s low was 7706 and it closed around 7718, just above 7700; the upper resistance is still near last week’s high around 7750. The Nasdaq’s weekly high was about 26644, and it closed near the higher end.
Events: Monday is Labor Day and the market is closed. Thursday brings August PPI; Friday brings August CPI plus the preliminary University of Michigan sentiment. Earnings to watch: Oracle and Adobe. After CPI, the focus shifts directly to the 9/15–16 FOMC, and the probability of a rate hike has risen to around 60% after the nonfarm report.
Next week’s move: treat it as a rally that fades. If the S&P reclaims 7750 and holds above it, that view is invalidated; a break below 7700 opens up the downside.
My view: bearish in the short term. 7750 is resistance for now, not support.
$NVDA $ADBE #美股 #nextweek
Last Friday: the S&P closed at 7718.60, −0.38%; the Nasdaq at 26506.99, −0.29%; and the Dow at 53414.25, −0.51%. For the week, the S&P was about +0.1%, the Nasdaq +0.4%, and the Dow −0.3%. Some gains were given back after the nonfarm payrolls report, and the market is closed on Monday for Labor Day.
Structurally: on Friday, the S&P’s low was 7706 and it closed around 7718, just above 7700; the upper resistance is still near last week’s high around 7750. The Nasdaq’s weekly high was about 26644, and it closed near the higher end.
Events: Monday is Labor Day and the market is closed. Thursday brings August PPI; Friday brings August CPI plus the preliminary University of Michigan sentiment. Earnings to watch: Oracle and Adobe. After CPI, the focus shifts directly to the 9/15–16 FOMC, and the probability of a rate hike has risen to around 60% after the nonfarm report.
Next week’s move: treat it as a rally that fades. If the S&P reclaims 7750 and holds above it, that view is invalidated; a break below 7700 opens up the downside.
My view: bearish in the short term. 7750 is resistance for now, not support.
$NVDA $ADBE #美股 #nextweek
