October 11 – Stock mentions: SPY, SHOP, CSCO, MSFT, MU, NFLX
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN CSCO, MSFT, NFLX
- S&P 500 Futures +28 points
- US 10-Year 1.67%
- VIX 16.77
- Oil $54.46
- Dollar Index 98.56
- KOSPI +0.81%
- Shanghai +0.88%
- HSI +2.34%
- Nikkei +1.15%
- DAX +1.95%
- UK FTSE +0.29%
S&P 500 (SPY)
The S&P 500 Futures are moving higher today, and have now cleared two downtrends and passing 2960. It sets up that move back to around 2985 that we have been so focused on. Again, I reviewed additionally, clue why I thought the market was poised to rise yesterday in a video for paying subscribers. Hey the first two weeks are free to try, what more could you ask for – More Signs Supporting Higher Stock Prices
So much for shop moving lower, I guess I got that one wrong. Regardless, the stock is rising and is now nearing resistance is back at $333. If the stock can manage to get above this level of resistance, then it should have room to move towards $340.
Netflix is rising again today, and is trading up to around $285 and has now filled the gap. The next significant level to watch for comes at $293.
Cisco fell hard yesterday on that Goldman downgrade, but the stock held around the $46 region. Today the stock is breaking a downtrend, and I still think the stock is heading back towards $49.
Microsoft is coming back to life and after drifting lower the last few weeks. The stock broke the downtrend, and now $142 comes into play.
Micron appears it has finally found a floor, and perhaps $48.75 can soon be on the way.
Have a good one
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.