The August Small Business Optimism Index came in at 100.8 vs 100.3 last month. Today the market focus is on Apple’s fall product launch. In recent years, new product announcements have not given much boost to the stock on the same day. Let’s see if the iPhone 17 brings any surprise this time. With no big macro news, the market keeps moving in a tight range near the highs. The S&P 500 only swung 25 points yesterday. Key intraday levels are the same as yesterday’s premarket note.
Most leading stocks show no change in technical patterns. But some theme stocks are active on news. Chipmaker ALAB, added to the S&P index, jumped +13% yesterday. HOOD +15.8%. Data center CRWV rose +5% yesterday and is up another +7% premarket. TEAM plans a $610M deal to buy an AI browser startup, stock +7% premarket. Materials: TECK +18%, ALB -8%.
UNH, backed by Buffett, is +3.5% premarket, still climbing and trying to fill the May gap down. China stock BABA keeps rising after earnings. Premarket price is near the $145 area, a major resistance level for this year and also the past four years. If it breaks, next target is around $160.
For SPY, watch resistance at $650–654. The key pivot is near $647. Support stays around $644. Focus remains on AI leaders and the active theme stocks mentioned above.
More Information/Reports/Video/Analysis please contact us—info@the-currency-store.com. We offer fully customised content services tailored to you needs.
Add comment
Comments