TTG Index Charts & Out of the Box Stocks to Start the Week

Out of the Box MarketWebs Screen

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This Index note is provided every Monday morning to help determine Index support & resistance levels

US Dollar -0.9% / 30yr Bonds -1.3% / Crude -0.7% & Nat Gas -4.7% / Gold +1.8% / Copper +1.2% / BTC -1.3%

US Upcoming Economics / Bond Auctions / Fed

International Markets

Premarket Movers

US Premarket Movers: Alibaba, Coinbase, Nvidia, Novavax, Reddit

via Bloomberg

(Bloomberg) -- US equity-index futures are lower, retreating alongside other US assets, after Moody’s Ratings stripped the country of its top credit rating. S&P 500 Index futures are down 1.1% at 7:29 a.m. in New York.

Nasdaq 100 futures sink 1.5%

Dow Jones Industrial Average futures fall 0.6%

The MSCI World Index gains 0.1%

Here are some of the biggest US movers today:

Magnificent Seven stocks are lower as risk appetite broadly falters

Tesla (TSLA) -3.5%, Nvidia (NVDA) -2.7%, Meta Platforms (META) -1.9%, Alphabet (GOOGL) -1.8%, Amazon (AMZN) -1.8%, Apple (AAPL) -1.5%, Microsoft (MSFT) -0.9%

Cryptocurrency-linked stocks including Coinbase, Robinhood and MicroStrategy fall, tracking the price of Bitcoin lower amid the risk-off mood

Alibaba ADRs (BABA) fall 2.3%, following Hong Kong shares lower, after the New York Times reported that the Trump administration has raised concerns over Apple’s potential deal with the Chinese tech giant

Novavax (NVAX) shares rally 12% after the US FDA approved the drugmaker’s Covid-19 vaccine for adults 65 years and older as well as those aged 12 to 64 years who have at least one medical condition that puts them at a higher risk of severe illness from Covid

Reddit (RDDT) shares are down 6.4% after the web forum operator is downgraded to equal-weight from overweight at Wells Fargo, with analysts saying that recent user disruptions are likely to be more permanent as Google “more aggressively” implements AI features in search

READ MORE:

Before the Bell: Moody’s Downgrade Ends the Trade-Truce Party

SPDR S&P 500 ETF Trust Most Cited in Stocktwits

New US Wraps: ‘Before the Bell,’ ‘S&P Week in Review,’ ‘S&P Month in Review’

“Before the Bell” is a daily story with all you need to know before the open on Wall Street. On the Terminal, click here to see it and subscribe. 

The “S&P Week in Review” is a wrap of equity events, published every Friday. On the Terminal, click here to see it and subscribe. The “S&P Month in Review” comes on the last day of the month. Click here to see and subscribe. 

READ MORE:

Before the Bell: Moody’s Downgrade Ends the Trade-Truce Party

SPDR S&P 500 ETF Trust Most Cited in Stocktwits

US ANALYST RATINGS: Upgrades, Downgrades, Initiations

Before the Bell: Moody’s Downgrade Ends the Trade-Truce Party

Below are the biggest movers in the US stocks, grouped in three sections by market capitalization:

OVER $20 BILLION

UnitedHealth (UNH US) +4.8%

UnitedHealth Cut to Hold at Cowen on Accelerating Cost Trends

Anglogold (AU US) +2.2%

Gold Could Rebound After Consolidation If Drivers Turn Positive

Newmont Corp (NEM US) +1.9%

Humana (HUM US) +1.5%

Elevance Bond Spread vs Health Care Peers Tightens

Regeneron (REGN US) +0.8%

Regeneron to Buy 23andMe for $256m in Court-Supervised Sale

Vertiv Holdings (VRT US) -4.0%

Garmin (GRMN US) -4.3%

Vistra Corp (VST US) -4.5%

Robinhood (HOOD US) -4.6%

Crypto-Linked Stocks Drop as Bitcoin Slides Amid Risk-Off Mood

Reddit (RDDT US) -6.7%

Reddit Slides as Wells Fargo Downgrades on Google AI Threat (1)

$5 BILLION TO $20 BILLION

Moderna (MRNA US) +2.5%

Novavax Shares Advance as FDA Approves Covid Vaccine Use (1)

Royal Gold (RGLD US) +1.7%

Norway Fund Backs Royal Gold on 6 of 6 Proposals at May 22 AGM

Ionis Pharma (IONS US) +1.3%

Ionis Pharma’s Phase 3 Study of Olezarsen Met Primary Endpoint

Paramount Global (PARA US) +0.8%

Solventum (SOLV US) +0.6%

Solventum Upgraded at Piper on Revenue and Margin Improvement

Rocket Lab USA (RKLB US) -5.0%

Icahn Enterprises (IEP US) -5.0%

Tempus AI (TEM US) -5.6%

NuScale Power (SMR US) -7.1%

NuScale Power’s CEO Hopkins Sells $623,375 of Shares

Oklo (OKLO US) -7.1%

Oklo Delta Hedge at 6.7% Daily Volume: Options Pre-Mkt

$50 MILLION TO $5 BILLION

Fractyl Health (GUTS US) +17.8%

Fractyl Health Submits First CTA Module in Europe for RJVA-001

Sable Offshore (SOC US) +15.0%

Sable Offshore Delta Hedge at 99% Daily Volume: Options Pre-Mkt

Thumzup Media (TZUP US) +11.3%

Novavax (NVAX US) +10.7%

Novavax Shares Advance as FDA Approves Covid Vaccine Use (1)

Skye Bioscience (SKYE US) +9.6%

TSS (TSSI US) -8.0%

Patriot National (PNBK US) -8.0%

LanzaTech Global (LNZA US) -9.2%

Richtech Robotics (RR US) -9.3%

Top Win International (TOPW US) -10.7%

Index Updates

At TTG, I use Volume At Price in my chart analysis and I use the MarketWebs Indicator to provide Value Areas & VPOCs which indicate significant support & resistance levels. Learn More Here about Volume At Price and the MarketWebs.

ES_F - SPX Futures - Daily chart: Price ind. -1% to start a new week with the Moody’s downgrading the US to Aa1 from Aaa. Price is slipping below its 5d MA (Moving Average) and will see if that is the case by end of day. Upside VPOC (blue line) to target is 6057.25 ad downside support is 200d MA

1hr chart: Price starts the week INSIDE its new Value Area for week, support is 5851.5 & resistance is 5952.00

NQ_F - NDX 100 futures- Daily chart: NDX futures -1.5% and below its 5d MA. Upside VPOC to target 2170.75 and support down at 200d MA and top of yearly Value Area 20,269.25

1hr chart: Price starts the week INSIDE its new Value Area for week, support is 21006.25 (QQQ $511.24) & resistance is 21,516.75 (QQQ $521.64)

RTY_F - Russell Small Cap Futures- Daily Chart: RTY futures ind. -1.4% and staying close to the last VPOC take out (blue line). Price also dipping BELOW its 5d MA and will see if closes there which would indicate losing short-term trend.

1hr chart: Similar to the other indices, price starts the week INSIDE its Value Area for the week, support 2078.8 (IWM $20705) & resistance 2113.3 (IWM $209.34).

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Here is today’s TTG Proprietary Stock Screen “Out of the Box” using Volume At Price

names trending above their Value Areas (on 3 multiple timeframes & not super extended)