MARKETS: YF Premium Investment Idea: American Express Company (AXP)

Yahoo Finance's Jared Blikre breaks down some of the features of the Yahoo Finance Premium package. Not a subscriber? Start your free trial today.

Video Transcript

ADAM SHAPIRO: All right, a bit of a mixed picture with the indexes right now. Jared Blikre is joining us now to fill us in on what's moving markets and why the NASDAQ may be off.

JARED BILKRE: Yeah, we have a bit of a reversal here. Tech was the big leader early on. Apple opened up about 2% or 3%. And now, it's in the red. So let's take a look at the NASDAQ 100 Heat map. Here and we have Apple down 4% right now over the last five days, still maintaining just under 2% of its gains. Year to date, just kind of a blip in the long-term picture, still up 75%.

But some other big losers here too. Tesla had been down as much as 12%. It's down about 9 and 1/2% right now. This would be the worst day since early March. And that would coincide with this low right here. So we do want to keep an eye on this one. Because Tesla has been a leader.

Zoom. Zoom, after having the best day ever, 40% up yesterday. It's down about 8% today. Still up 500% plus year to date. And then we're also taking a look at some of the semiconductor sectors. Because Nvidia, which had been up about 4% or 5% early on, is only up about 2% now. But you can see a lot of these chip names are holding onto their gains, Applied Materials up 4%.

And also taking a look at the pharmaceutical sector. That is largely in the green today, benefiting from a flight to quality. Utilities, staples, those are the big ones that are up today. Here's the S&P 500, over the last 21 days, and you can see from the lower left to the upper right, uptrend is still intact. We do want to find support at 3,525 to 3,530, if we do come down. But right now, not in danger of being violated.

The NASDAQ is where we're showing some bigger gains here. And if we go down much further, if this red candle engulfs this green one, that's bearish engulfing. So we don't want that to happen if you're in the bull camp. Now it's time for our Yahoo Finance Premium Investment Idea of the Day. And this is American Express. Based on a technical formation, this is forming a giant triangle wedge here, which is bullish. And we are seeing it break to the upside, forgive the drawing there.

We do have an upside target of about, I believe, 130 here. So that presents significant upside. And if you're looking for a stop, you might look at either the 50 or the 200 day moving average, which is right under $100, probably about $90, $93 right In here. Also, I just want to plug our webinar. I'm going to be presenting with Joe Formby in a couple hours, 2:00 PM eastern. We're going to be talking about how to navigate volatility.

This is the worst month for stocks. And we do experience some VIX shocks. That might be what we're having right now. It's going to be 45 minutes. And you can register. Go to our home site, YahooFinance.com. We should have a link up. You don't find it there, catch me on my Twitter feed, at @SpyJared, @SpyJared. Adam.