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July 30 –Â Stock mentions: SPY, AMZN, BA, MU, MRK, LLY
US Markets
- S&P 500 Futures – 6 points
- US 10 -Year 2.05%
- Oil $57.44
- Dollar Index 98.06
- VIX 13.23
International Markets
- Japan Nikkei +0.43%
- Shanghai +0.39%
- HSI +0.14%
- KOSPI +0.45%
- DAX -1.16%
- FTSE 100 +0.02%
S&P 500 (SPY)
Stock are pointing to a slightly lower opening on July 30, and with the Fed meeting starting today and results tomorrow, it is hard to imagine that we see too much action today. Support will continue to be around 3,014 and 3,025 at least for today.
Micron (MU)
Micron was upgraded on July 30 at Morgan Stanley to Equal Weight from Underweight. The firm raised its prices to $48 from $31. The stock has been trending higher in recent weeks. Resistance for the stock appears to be around $54. The stock has a firm level of support in place at $45.50
Boeing (BA)
Boeing continues to drift lower and is trading below $340 this morning. The uptrend appears to be breaking, and that can spell nothing but bad news for Boeing, with the chance for shares to fall to around $320.
Amazon (AMZN)
Amazon is down about 1% this morning, and it is testing technical support once at gain at $1890. A break below this price push shares towards $1850. Premium Content: Why Amazon May Drop
Merck (MRK)
Merck is trading higher today after it reported better than expected results and raised its full-year guidance. The stock has been steadily trending higher, and $88 would put the stock the upper end of the trading range.
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[youtube-feed feed=7]Eli Lilly (LLY)
Eli Lilly is rising today after reporting better than expected results. However, the stock is still in a downtrend putting resistance at $112.
Have a great 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.