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Subscribe →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.
Navigating The Market · By Michael Kramer
Independent macro and options research, published every trading day.
Daily written analysis covering gamma exposure, dealer flows, key levels, and the macro drivers moving markets. Includes full video access.
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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.
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.
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Amazon (AMZN)
Amazon continues to look reasonably strong with the potential for the stock to rise towards $1965.
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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