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September 12 – Stock mentions SPY, AMZN, NVDA, ROKU, FCX
US Markets
- S&P 500 Futures +7.25 points
- US 10-Year Yield 1.68%
- VIX 14.6
- Oil $55.19
- Dollar Index 98.93
International Markets
- Shanghai +0.75%
- HSI -0.26%
- Nikkei +0.75%
- KOSPI +0.84%
- Germany +0.63%
- UK +0.24%
Macro
Some recent Macro videos in my SA Marketplace RTM, first 2 weeks free
- Why Stocks May Be Poised To Rise Even More
- Risk Aversion Trade Unwinding Fast
- The Invert Yield Curve Explainer
- My Process Revealed
The ECB cut deposit rates by ten bps to -0.5bps and started a new round of QE at €20 billion. I thought the QE announcement was light, and at the moment I’m rather surprised that the euro is weakening and the German 10-Year is falling. Well, see how things go as the hours and days progress. But based on what I see so far, I wouldn’t be surprised to see the euro and yield rise.
S&P 500 (SPY)
The S&P 500 futures are rising this morning on news that President Trump will delay the next round of tariffs by two weeks. The S&P futures have crossed the 3,000 mark, and that will help to put the all-time now less than 1% away.
Copper
Copper prices are rising this morning, a global growth proxy. It broke a pretty strong downtrend which should help to lift copper price towards $2.71.
Stocks
Some recent articles on Stocks in my SA Marketplace RTM, first 2 weeks free
- Netflix Still Has Some Life Left
- AMD Stock Is Looking Very Weak
- Betting Square Falls
- Why Freeport And Copper May Be Heading Higher
Freeport (FCX)
Freeport is a rising as results and is nearing a pretty big break out should it get over $10.40. Sets up a move higher towards $11.
Nvidia (NVDA)
Nvidia continues to head higher with $198 in reach.
Amazon (AMZN)
Amazon continues to hold strong and is now starting to trend higher. Again, nothing changes here, $1900 is still on track.
Roku (ROKU)
Roku is currently holding support around $144, but resistance will now come at the uptrend around $157. But that RSI is very high and that may mean that the stock is still heading lower.
-Have a great day
-Mike
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