Home » 7 Monster Stock Market Predictions For The July 17 Trading Session

7 Monster Stock Market Predictions For The July 17 Trading Session
The S&P 500 is pointing to a mildly higher opening on July 17. We will find out a lot about the stock market's next big today.

7 Monster Stock Market Predictions For The July 17 Trading Session

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

Otherwise, enjoy the column!

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July 17 – Stock mentions: SPY, SMH, NFLX, AMD, BAC, AMZN, SQ

Michael Kramer and the clients of Mott Capital own NFLX

US Markets

  • S&P 500 Futures +3.5 points
  • US 10 Year 2.1%
  • Dollar Index 97.35
  • VIX 12.69
  • Oil $58.05

International Markets

  • Shanghai Composite -0.2%
  • Hong Kong HSI -0.09%
  • KOSPI -0.91%
  • Nikkei -0.31%
  • Germany DAX +0.03%
  • UK FTSE -0.06%

US Trading for July 17

S&P 500 (SPY)

The S&P 500 is pointing to a slightly higher opening on July 17. Not much has changed since the last time I checked in with you. We are pretty close to finding out if the index is going to reverse lower, potentially as early as today. Should it break down, the first level of support would come at 2,975. Meanwhile, should it continue to rise, the next level of resistance comes at around 3,030.

The wedge seems like it is still middle innings, so I think we may be able to squeeze out some higher prices before a mild retracement. But what happens at support at 3,000 will tell us a lot on July 17.  Premium content: Second Quarter Mott Capital Investor Letter

S&P 500, spx

Semis (SMH)

ASML Holdings is rising today by over 5% after reporting better than expected earnings. It should help to lift the Semis sector. The SMH is testing resistance today at $114.60.

asml

Netflix (NFLX)

Netflix will report results today after the close. The options that expire this Friday suggesting the stock rise or fall by 7% following the results. It places the stock in a trading range between $342 and $393.

For now, the stock has held support at $362, and I have been looking for the stock to rise to $405. I do think that the company will report better than expected subscriber net additions, and give strong guidance. I’m fearful that it may not be enough for the stock to rise, as investors have started focusing more on Free Cash Flow.

However, my hunch given the price hikes, we see better than expected revenue and EPS. We’ll see.

Netflix, nflx, amd , stock, AMD (AMD)

AMD has that nice rising triangle, and it would suggest we see that rise above $34.50, potentially today.

amd, stock july 17

Amazon (AMZN)

Amazon is getting ready to make it next move up as the wedge contracts. The next level of resistance is likely around $2,060.

amazon, amzn

Bank of America (BAC)

The market at this point seems less than impressed with Bank of America’s earnings results. Shares could drop to $28.

bank of america, bac

Square (SQ)

I’m torn some on Square; it isn’t clear to me yet what happens next. That’s because the chart is creating an ascending triangle. However, there is a risk that the stock first falls to the uptrend at roughly $78 first. We will need to continue to watch closely.  However, a break out above $83 sends the stock to $92.

square, sq, stock, july 17

Have a great day!

-Mike

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.