Nasdaq dropped slightly over 4% last week. For those of you interested in stats that’s the most since March following Covid-19 shutdowns. Will the correction continue this week? There isn’t any news expected to suggest otherwise. Best to prepare for a sideways moving market at least until the next earnings season or if the Fed pushes another relief package.
There is an Apple event on Sept 15. This is when they typically announce new phones. However, this year no significant news is expected from this event. Apple is down 18% from their highs after the 4:1 split.
Corporate earning season continues this week.
Click on the ticker links below for earnings estimates and whispers on expected earnings.
| Monday, September 14, 2020 |
| Lennar Corp.LEN) |
| Tuesday, September 15, 2020 |
| Adobe Systems Incorporated(ADBE) FedEx Corporation(FDX) |
The following is a list of stocks for the week of Sep 08, 2020 – Sep 11, 2020 that show bullish and bearish trends.
The bullish matches – Oversold RSI
| Ticker | Company Name | Date | Chart Type | RSI |
| SU | Suncor Energy | Sep 09, 2020 | Homing Pigeon | 28.75 |
| FANG | Diamondback Energy Inc | Sep 09, 2020 | Homing Pigeon | 26.16 |
| CPB | Campbell Soup | Sep 09, 2020 | Homing Pigeon | 28.55 |
| WBA | Walgreens Boots Alliance, Inc. | Sep 11, 2020 | Doji Star, Homing Pigeon | 24.45 |
| CIEN | Ciena Corp | Sep 11, 2020 | Harami | 23.04 |
| LITE | Lumentum Holdings Inc. | Sep 11, 2020 | Homing Pigeon | 26.92 |
The bearish matches – Overbought RSI
| Ticker | Company Name | Date | Chart Type | RSI |
| None | ||||