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NFP Jobs Shock: LULU & AVGO Plunge as Tech Faces Ultimate Support Test
Description
Here is the trade setup for the Friday open.
Markets are facing a massive macro test with the May Nonfarm Payrolls report and mounting tech fatigue. Is this a healthy rotation or the start of a deeper slide?
🚀 Stocks to Watch:
• 📉 Lululemon (LULU): Plunging 11.8% pre-market after slashing full-year guidance.
• 📉 Broadcom (AVGO): Heavy pre-market pressure following yesterday's 12.6% AI-driven collapse.
• 📉 DocuSign (DOCU): Dropping 5% pre-market as guidance fails to satisfy aggressive expectations.
🎯 Key Levels to Watch:
• S&P 500 Futures (/ES): Critical line in the sand support at 7,525 – 7,535; resistance at 7,600.
• Nasdaq 100 Futures (/NQ): Ultimate structural floor to hold at 29,744.
• Broadcom (AVGO): Key support at $400 – $408; overhead resistance at $435 – $437.
• Lululemon (LULU): Immediate danger zone below $110; recovery targets at $125 – $130.
Content is for informational and educational purposes only. Market data may be subject to platform delays. This is not financial advice.