July 23 – Stock mentions: SPY, BABA, NVDA, FB, INTC, MSFT
Michael Kramer and the clients of Mott Capital own MSFT
- S&P 500 Futures +9 points
- US 10- Year 2.06%
- US Dollar 97.48
- Oil $55.94
- VIX 13.23
- Shanghai +0.45%
- HSI +0.34%
- Nikkei +0.95%
- KOSPI +0.39%
- FTSE +0.61%
- DAX +1.75%
Premium Content: Why Amazon May Drop
Stock Market Predictions for July 23:
S&P 500 (SPY)
S&P 500 is pointing to a higher opening and set up to do battle today with resistance around 3,000 and the downtrend. We should find out relatively early on which way the index is heading. I noted last night that an increase above 3,000 signals a breakout and potential for a further rise. However, should it fail it could signal a steeper drop is on the way.
Alibaba’s stock appears to be getting ready to take its next leg higher towards $183.
Facebook is rising and is now attempting to break out at $203. I continue to think FB could head towards $218.
Nvidia looks as if it getting ready to move towards $178.
Microsoft is beginning to look more and more like it is heading for its next leg higher, not lower. A change from my view yesterday, yes, I am aware.
Should Intel rise above $52.50 the stock can work to fill that gap at $57.25
Have a good day.
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