ANY Reddit Mentions | ChartExchange

**Post Open**
Trying to catch-up from the past week+ being out of touch. Look like Tech tanked hard and we are getting a bit of a bounce to start the day Last Friday being monthly OPEX didn’t help anything either as well as escalation in Iran. It is hard to see much positive going on until something clears up in Iran. I do not have a high expectation of such a thing coming about in the short-term. We will see.
Now we are looking ofro a positive start on the day which is likely a nice reliefnbounce after the shelling last week. The good news is the S&P is really doing just fine, but the Nasdaq and QQQ are taking a beating. I see the QQQ possibly continuing lower to the 670ish level for another week or so if nothing much changes in the world situation.
AMD took a big dip down to 460ish last week and closed the week below the 5 week MA.   The outlook suggests the 5 Week MA of 521 may continue to slowly decline toward the 500 level as the 20 Week MA which is rising sharply continues to move up. This is all highly fluid as AMD approaches earnings in 3 weeks and we need to see if it is going to experience ANY run up at all into earnings. A few weeks ago, I certainly could see it moving up closer to the $600 level, but that was when oil was closer to $70 than $90+.   Things have changed a lot. I will say of the semi’s, AMD is looking stronger then most others and has not yet at least taken a large of a dive lower. It may still be coming, but AMD is not moving sharply lower, although, I am sure it felt that way last Friday.
NVDA is doing well as the 5 week MA is now sitting on top of the 20 Week MA and both the 20 Week and 50 Week MA’s are turning upward. It looks like NVDA could and should improve from here.
MU looks destined to find the 20 Week MA at 725-740ish before it fulfills it retracement path. It has certainly dropped VERY sharply from a high of 1255, but also will not have a quarterly report until the 3^(rd) week in September.   IF it turns around it will be on the strength of other chip reporting.
Stepping back a good bit, the year is shaking out with our normal mid-year weakness in the July-August timing in the tech stocks. This weakness began appearing in June as well. With the oil prices as they are, we will have to wait and see if we get any improvement in the September timeframe or if oil prices pressure the FED enough to seriously consider rate hikes. I certainly hope not, but we are going to hear that repeated continually until something positive results in Iran. Otherwise, the US economy is doing pretty darn well.
I do not know when it was announced, but I see Samsung is moving its US headquarters to Plano, Texas, from New Jersey.
Let’s see how this week shakes out. Looks like I missed the nicest week in July going to Hawaii as this week is 100+ degrees most every day. We did get a lot of rain while I was gone. It was also way hotter in Hawaii, than expected so less fun that normal but still a good time. Shocking to see that gasoline prices in both Hawaii and California were nearly identical in the $5.39-5.69 level.