Home » Stocks Are Set To Open Flat On November 8, But Don’t Count Them Out

Stocks Are Set To Open Flat On November 9, But Don't Count Them Out
The stock market is pointing to a dull day on November 8, but as we know, these days are anything but boring.

Stocks Are Set To Open Flat On November 8, But Don’t Count Them Out

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!

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November 8

Stock mentions: GOOGL, DIS, JD, BABA, FB

Macro  mentions: SPY, EEM

US Markets

  • S&P 500 Futures +0.50 points
  • US 10-Year 1.95%
  • Dollar Index 98.31
  • VIX 12.88
  • Oil $56.25

International Markets

  • Japan +0.26%
  • China -0.49%
  • HK -0.70%
  • SK -0.33%
  • DAX -0.17%
  • UK -0.30%

MACRO

S&P 500 (SPY)

Stocks are looking to open flat on November 8, but the futures are still holding an up channel that appears to be rather strong. Based on that channel, the futures could rise to around 3,120, not today, but over the next few days.

S&P 500 futures

Emerging Markets (EEM)

Emerging market stocks may be getting ready for a big move higher based on some bullish options betting I have been seeing in recent days. I talk and where I think the ETF can go in this free article on Investing.com – Here’s Why Emerging Markets Stocks May Be Ready To Surge

eem, emerging markets, november 8

STOCKS

Disney (DIS)

Disney is rising after reporting better than expected results and strong ESPN+ subscriptions. Although the company has been quiet on how the new Disney+ pre-orders are going. For now, resistance comes at $141.65, with support at $139.

disney, dis

Alibaba (BABA)

Alibaba is nearing another breakout should it rise above $188. It could set up an increase to $201.

disney, dis

JD (JD)

JD.com finally saw that big break out at $31.50, and the push to $34.80 is on.

jd

Alphabet (GOOGL)

Alphabet is breaking out of a very long period of consolidation. The stock has done this on several occasions in the past. While it is never easy to project a stock’s future move higher, it seems possible that this stock could one day over the next several months rise to around $1,600.  Here is an article I wrote for Forbes last night – it is free to read — Alphabet’s Stock Is Ready To Soar

google, alphabet

Facebook (FB)

Facebook has generally been trending higher, but shares have been well contained following results while failing at resistance, which had formerly been an uptrend. The stock, to no surprise –at least to me, is now heading lower again. I think $186.10 is still the target, maybe even $181.

facebook, fb

Have a great Friday

-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.