June 20 – Stock Mentions: SPY, IWM, AMZN, AAPL, QCOM, JD, NFLX

Michael Kramer owns IWM Calls

Michael Kramer and the clients of Mott Capital own AAPL and NFLX

US Markets

• S&P 500 Futures +25 points
• 10-Year 2.01%
• VIX 13.79
• Dollar Index 96.66
• Oil $55.53

International Markets

• Japan Nikkei +0.6%
• China Shanghai +2.38%
• Hong Kong HSI +1.23%
• South Korea KOSPI +0.31%
• UK FTSE +0.34%
• German DAX +0.90%

International Trading

There’s a global stock market rally on June 20 following the Fed’s dovish monetary policy. Rates are falling, and the risk appetite for the market is coming into play.

I highlighted last night during the international trading sessions, in the StockTwits premium room, that the Asia markets were breaking out. 

China

The Shanghai Composite had a strong showing overnight and is likely on the way back towards 3,100.

KOSPI

The South Korea KOSPI also broke a significant downtrend last night.

It always a good sign when you have global markets rising along with the US serving as confirmation.

US Trading for June 20

S&P 500 (SPY)

The S&P 500 Futures are pointing to a strong opening on June 20 and are flirting with their record highs. The futures are so close that it is literally touching it.

Russell 2000 (IWM)

The Russell ETF – IWM is also pointing to a sharply higher opening for the Russell 2000. The IWM appears to be on pace to rise back to $161. We can see the rising-triangle formation, which would suggest the ETF break resistance on June 20 at $156.

Netflix (NFLX)

NFLX is breaking its downtrend and is at least on pace to challenge $380 again. Just ahead of Dark season 2 tomorrow! What a great show, it is German, but it is up there with Stranger Things. I highly recommend it.

Amazon (AMZN)

AMZN appears to be breaking out and will challenge resistance at $1,966.

Apple (AAPL)

AAPL got a significant price target increase from Cascend Securities going to $240 from $210. The firm is seeing substantial iPhone volumes increases. I already noted earlier this week the stock was breaking out and could move to around $209 based on options and the chart. But you had to be a member of the SA premium room to get all that info. Apple Is Breaking Out, May Rise Further. Sorry, but Ad revenue for the website is down sharply for the last two months.

JD (JD)

I also noted that JD.com would rise to around $30 last week. It looks like that may be right.  JD.Com: Bullish Betting Suggest The Stock Rises

Qualcomm (QCOM)

I think QCOM is heading back to $76. I noted this in a FREE article last week.

I’m sorry, I’m a little bit excited today. It feels good to see the market rising to new records as I was expecting it too. I have been the minority for some time going back to December. At times I felt like I have been out there all alone, but it seems my determination and confidence in my views is prevailing.  Thank you for all your support.

-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.