Stocks will try to rebound on January 28 but will face some critical levels of technical resistance along the way.

Stock Are Rebounding On January 28, While Facing Critical Resistance

JANUARY 28, 2020

STOCKS: AMD, AMZN, TWTR, AAPL

MACRO: SPY, EWY, 

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN APPLE

Don’t forget FOMC meeting starts today!

S&P 500 (SPY)

Stocks are rebounding today, with the S&P 500 futures rising above 3,255, and an increase above 3,264 set into a motion a potentially sharp move higher back towards 3,296. Cash market has different levels, remember.

S&P 500, es

Korea 

The good news is that Japan was only down modestly last night, 55 bps. Also, the Kospi, although down 3%, held a critical level of support around 2,170.

south korea,

Europe is higher as well by 20 to 40 bps across the board.

AMD (AMD)

AMD will report results after the close, and the set up appears to be bullish. I will be posting an update on this later this morning, in the premium areas on StockTwits and SA Marketplace I still think this one is moving higher, based on some recent activity.

amd

Amazon (AMZN)

Amazon is moving higher today after Wedbush noted the company should deliver strong top-line results, while Credit Suisse expects AWS to continue to ramp up sales. If the stock could ever clear $1900, it could move up to $1966. My Forbes article – Amazon’s Stock May Jump Following Quarterly Results Despite Rising Costs

Amazon, amzn

Twitter (TWTR)

I also wrote up an article on Twitter last night for Forbes, noting the stock was likely to fall to under $30 following results based on some bearish options betting. Twitter’s Stock May Plunge By 9% Following Quarterly Results 

 
Apple (AAPL)
 
As I noted in yesterday‘s midday commentary, I think Apple has an excellent chance to fill that gap up to $317 ahead of tonight’s earnings. 
APPLE, AAPL
 
Have a good day!
 
-Mike
 
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