Home » Stock Market Rally Is Ready To Continue on September 6

Stock Market Rally Is Ready To Continue on September 6
Stocks are rising on September 6 following a non-event jobs report as the market awaits Powell at 12:30 PM.

Stock Market Rally Is Ready To Continue on September 6

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!

Subscribe to the Monster Stock Market Commentary and join the 1,905 subscribers getting it for FREE every day!

Follow Us on StockTwits

September 6- Stock mentions: SPY, NFLX, LULU, UBER, SNAP

Michael Kramer and the clients of Mott Capital own NFLX

  • US Markets
  • S&P 500 Futures +10.50 points
  • 10-Year Yield 1.6%
  • Dollar Index 98.50
  • Oil $55.20
  • VIX 15.8

International Markets

  • Japan Nikkei +0.54%
  • Hong Kong HSI +0.66%
  • China Shanghai +0.46%
  • South Korea KOSPI +0.22%
  • Germany DAX +0.4%
  • UK FTSE -0.07%

It will be a busy day believe it or not, with the BLS Jobs report and then a speech by FOMC Chair Powell at 12:30 PM.

The BLS report seemed like a non-event with job creation of 130,000 versus estimates of 160,000. Meanwhile, the unemployment report of 3.7% as expected. Wage growth was fine at 3.2%. I don’t see any issues here that will derail the market.

International Trading

Markets overseas continue to rise and have been consolidating sideways at the moment. It should help to push markets like in South Korea higher next week. 

South Korea, kospi

US Trading

S&P 500 Futures

A similar type of pattern has been created in the S&P 500 Futures. It too is a continuation pattern that would indicate that the market rises and push towards 3,000 and the uptrend.  Premium content: The Trend For Stocks Has Turn Higher

ES, S&P 500, spy

Lululemon (LULU)

Lululemon reported better than expected results, and the stock has received several upgrades. The stock is rising above resistance $195 on September 6. This region should help to act as support going forward.

lulu, lululemon

Netflix (NFLX)

At least for the moment, Netflix is rising above the upper end of the falling wedge. Does that mean a break out can happen? Perhaps. I’d feel a lot more optimistic if the stock can get over $300.

Netflix, nflx

Uber (UBER)

I think Uber may finally be oversold, with the chance for the stock to rebound to around $35.85.

UBER, uber Stocks are rising on September 6 following a non-event jobs report as the market awaits Powell at 12:30 PM.

SNAP (SNAP)

Snap looks like it getting ready to make a run higher too, perhaps to $18.50.

snap, snap Stocks are rising on September 6 following a non-event jobs report as the market awaits Powell at 12:30 PM.

Have a great one!

-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. september 6