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September 10 – Stock mentions: SPY, AMD, T, SNAP, JPM, NFLX
Michael Kramer and the clients of Mott Capital own NFLX
- S&P 500 Futures -1
- US 10-Year 1.63%
- Oil $58.14
- Dollar Index 98.42
- VIX 15.71
- Shanghai -0.12%
- HSI +0.01%
- KOSPI +0.62%
- Nikkei +0.35%
- FTSE -0.10%
- DAX -0.13%
Stocks are pointing to flat opening on September 10, and at least for now continue to be a range of consolidation. The S&P 500 caught a slight bid on more China/US Trade optimism. We can continue to monitor support at 2975 and resistance at 3,000.
AMD continues to act poorly, and the stock appears it is heading towards $29.40. AMD Stock Is Looking Very Weak
AT&T jumped yesterday on the news of the Elliot stake, and now the gap appears as if it is going to be filled.
Snap fell hard yesterday with the rest of the Technology sector. But, I have seen a lot of call buying lately, and I think the stock is likely heading higher still. Premium Content: More Bullish Bets On Snap
Credit Suisse is noting they are seeing better app downloading for Netflix this quarter. The stock looks as it has completed the falling wedge. I still think the stock rises. Premium: Here Is Why Netflix May See A Rebound
Keep an eye on JPM; resistance comes at $117. Should it rise above that price, the all-time highs are within reach. Increasing yields and widening spread should help to lift the entire sector, which is why it has been hot in recent days.
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Have a great day!
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