September 23 – Stock mentions: SPY, ACAD, ROKU, SHOP, AAPL, EXAS
Michael Kramer and the clients of Mott Capital own ACAD and AAPL
- S&P 500 Futures -5 points
- US 10-Year Treasury 1.69%
- VIX 15.35
- Oil $57.80
- Dollar 98.69
- Japan Nikkei +0.16%
- KOSPI +0.01%
- HK HSI -0.81%
- Shanghai -0.98%
- UK FTSE -0.44%
- German Dax -1.08%
Germany saw its Manufacturing FLASH PMI fall to 41.4 lower than an expectation of 44.
The US Manufacturing FLASH PMI comes at 9:45 AM; estimates are for 50.1
S&P 500 (SPY)
S&P 500 e-minis futures fell hard around 3 am when the German PMI came out. The futures have been recovering some since, and are currently hovering around 2,990. The region around 2,980 has acted a reasonable level of support since the beginning of the month. Premium content: Micron Will Be The Key To The Week Of September 22 – Get the first two weeks for free.
Acadia is rising this morning after Cantor Fitergerald raised its price target on the stock to $56 from $49. The stock needs to get over $42 for a breakout.
Roku will remain in focus today, and at the moment the stock has stabilized around $109. Support will continue to be about $100, with resistance at $122.
Shopify is trading down to $315, and one should be careful. If the deal price breaks, the stock could see plenty of downward pressure pushing shares towards $285.
Apple will need to hold support at $217.50 to avoid a decline to $209.50.
Exact Sciences (EXAS)
Exact Sciences is rising today, after Cologuard gains FDA approval for ages 45 to 49. The stock is increasing by 6% in the pre-market but still faces fierce resistance around $115.
Have a great day!
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