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July 2 – Stock mentions: SPY, MU, ROKU, AMZN, NVDA, FB
US Markets
- S&P 500 Futures -4.5
- US 10-Year 2.01%
- Dollar Index 96.74
- Oil $58.74
- VIX 14.16
International Market
- Shanghai Comp. -0.03%
- Hong Kong HSI +1.17%
- Japan Nikkei +0.11%
- South Korea KOSPI -0.36%
- UK FTSE +0.48%
- Germany DAX -0.20%
S&P 500 Futures
S&P 500 futures are down modestly for July 2. However, the trend in the index appears to be moving higher despite today’s declines. Support for the S&P futures is around 2962. Meanwhile, resistance appears to be resistance is around 2,985. I think the S&P 500 is higher by days end.
Roku (ROKU)
Roku is falling this morning after RBC downgraded the stock. The stock is falling to support at $88. The next level of support for the stock is around $81.Â
Micron (MU)
Micron gapped higher yesterday, and now that gap needs to be refilled at $38.70. But it could be worse because I had noted late week that the stock could fall to around $34. Premium content: Micron’s Rally May Soon Fade
Facebook (FB)
Facebook may be starting to run out of juice. The chart is forming a bearish reversal pattern known as a rising wedge.
Amazon (AMZN)
Amazon continues to look reasonably strong with the potential for the stock to rise towards $1965.
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[youtube-feed feed=7]Nvidia (NVDA)
Nvidia managed to fill the gap intraday yesterday, and now the stock likely continues to rise to around $179.
Enjoy your day!
-Mike
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.