July 2 – Stock mentions: SPY, MU, ROKU, AMZN, NVDA, FB
- S&P 500 Futures -4.5
- US 10-Year 2.01%
- Dollar Index 96.74
- Oil $58.74
- VIX 14.16
- 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 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 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 may be starting to run out of juice. The chart is forming a bearish reversal pattern known as a rising wedge.
Amazon continues to look reasonably strong with the potential for the stock to rise towards $1965.
Nvidia managed to fill the gap intraday yesterday, and now the stock likely continues to rise to around $179.
Enjoy your day!
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