Overnight Moves

Today, we looked at 10 charts; below are only some of them, but first, let’s have a look at the overnight moves. We see some green again in the commodity space, with Gold being the outlier due to profit taking. Oil is slightly down, and we have more headlines regarding US-Iran tensions. Copper is trading well due to the tariff situation, where the US Supreme Court ruled against President Trump.

S&P 500 Index

Yesterday was very similar to what we’ve seen over the last couple of sessions, with the S&P500 Futures staying within our weekly levels and just touching our weekly resistance of 6,930 before coming back down. Still, it did not reach our weekly support of 6,800. We should look at IBM as it is a significant member of the S&P 500 index, representing the large-cap technology sector. With the hits tech has taken recently on the global market, IBM is no exception, as the company was hit with a 13% drop in share value yesterday, which is the biggest decline since the 2000’s for IBM. Expect continuation of sideways movement today for the S&P 500 Index.

iShares Expanded Tech Software (IGV)

IGV is now trading around the swing-lows we last saw in April of 2025. As we said earlier, the technology sector has taken some hits, and this is no different. The trend remains very much to the downside, and we do not expect any meaningful change until we see more reliable consolidation, as we saw some attempt to find support above $80, but clearly the sellers are too strong at the moment.

PayPal (PYPL)

There have been some headlines recently for PayPal, regarding talks of a takeover, but nothing is concrete as of yet. The result of these headlines has been that some short-term interest has been generated in the stock; we saw its value rise 5.76%. We think it might be worth a punt if we manage to see some continuation. Ultimatly we need to wait and see what comes out of these talks and how the market reacts from here on, as the fact that the stock has been on a decline for some time now needs to be taken into consideration. The big question is what comes next, and will it be enough to turn things around?

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