Home » 5 Stocks To Watch As The Market Rises on August 8

5 Stocks To Watch As The Market Rises on August 8
The market is set to rise on August 8 after a rough start to the week. Here are 5 stocks to watch YELP, TTD, OSTK, AMD, ROKU

5 Stocks To Watch As The Market Rises on August 8

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

Otherwise, enjoy the column!

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August 8 – Stocks to watch: SPY, YELP, TTD, OSTK, AMD, ROKU

US Markets

  • S&P 500 Futures +6.5 points
  • US 10-Year Treasury 1.72%
  • Dollar Index 97.59
  • Oil $52.08
  • VIX 19.5

International Markets

  • Nikkei +0.37%
  • China Shanghai +0.93%
  • HSI +0.48%
  • South Kospi +0.57%
  • UK FTSE +0.17%
  • Germany DAX +0.74%

S&P 500 (SPY)

Stocks are pointing to a higher opening on August 8. We will see where things go from here but based on what I mentioned yesterday; I continue to believe the path for the market is higher from here.  2,890 to 2,900 is the region for the December uptrend that we need to know rise above, and based on the futures; it seems we should retake that level today.

It sets up resistance around 2,915 at the gap fill. Then we find out if 3,000 or 2,825 is in the cards. Premium video: Signs Of A Market Bottom Are Forming

S&P 500, spx

It is also worth noting that spread between the S&P 500 dividend yield and the 10-Year is firmly inverted now, with the 10-Year at roughly 1.7% and the SPY dividend yield at 1.88%.

Again, if history is on our side, then it would suggest that a long-term rally is in the not to distance future.

Stocks To Watch

Yelp (YELP)

Yelp has been trending lower recently, and it appears that for now, the stock is heading towards that powerful level of support around $29.40.

yelp

Overstock (OSTK)

Overstock has been trending higher since breaking out in July. The stock appears to be ready to move higher towards $25.25.

overstock

The Trade Desk (TTD)

The Trade Desk has been rising in a channel for some time. But the RSI is diverging lower. The stock may be getting ready for a change in direction lower, for now support is at $231.

ttd The market is set to rise on August 8 after a rough start to the week. Here are 5 stocks to watch YELP, TTD, OSTK, AMD, ROKU

Roku (ROKU)

Roku is rising after delivering better than expected results. I still think one should proceed with caution here, with support around $100 and then $94.

roku, roku

AMD (AMD)

AMD is rising today after announcing the launch of its second-generation EPYC processor. The stock could see upside limited to around $31.40.

amd The market is set to rise on August 8 after a rough start to the week. Here are 5 stocks to watch YELP, TTD, OSTK, AMD, ROKU

Have a good day.

-Mike

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.