5G-Related Stocks Could Be Good Long Term Play Array ( [cookie] => c1af67-177ca1-accd01-1bf2df-cb7efb [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 151044 [reason] => [method] => ) 1 and can accesss
While market levels are going to remain a major focus for both traders and investors in the coming weeks as macroeconomic uncertainty escalates, it’s important not to lose track of opportunities developing at the industry level. In this week’s commentary, I review key levels for the S&P 500 index that are likely to trigger reactions from traders. Also interesting is the 5G group, which is an area I expect to continue to outperform through year-end and well into 2020.
S&P 500 technical levels are likely to act as important near-term trigger points as traders use the recent highs and lows as stop loss levels to control risk both on the short and long side. We are all looking at the same levels, notably important trading support at the August low at S&P 2822 followed by the 200-day moving average at 2800.
Consequently, the more important level being the June lows near 2730, my expectation is that the S&P 500 is bottoming short-term above 2822 with the August highs at 2943, near the 50-day moving average, a key trading resistance. The bottom line is I am expecting a volatile trading range to continue through much of September, setting the stage for a Q4 rebound.
However, while the headlines are likely to remain a headwind for the broader equity market, it’s a good time to build a shopping list of groups and ideas to invest for the long-term. 5G-related stocks remain positive technically with an interesting progression of chart patterns developing.


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