Stocks May Fall on October 7-Don’t Get All Doom and Gloom Yet

October 7 – Stock mentions: SPY, UBER, AAPL, NFLX, TWTR, TSLA

Michael Kramer and the clients of Mott Capital own AAPL, NFLX, and TSLA

US Markets

  • S&P 500 Futures -6points
  • 10-Year 1.52%
  • Dollar Index 98.91
  • Oil $53.05
  • VIX 18.33

International Markets

S&P 500 (SPY)

The S&P 500 futures are trading lower this morning on headlines that China is reluctant to make a broad trade deal. Regardless, the S&P 500 futures are holding support around 2,935 and the uptrend. So don’t get all doom and gloom yet. I still think we are heading higher towards 2,985.  – Check out my premium article: If You Thought Last Week Was Fun, Just Wait Until This WeekFirst two weeks are free to try, cancel if you hate it – I promise to not get insulted. 


UBER is rising this morning after Citigroup upgraded the stock to a Buy with a $45 price target. The stock is trading at resistance at $30.50 this morning. Should the stock rise above that price it could continue higher to $32.10

Apple (AAPL)

Apple launched its newest phone, but attention is turning to 2020 already. According to reports, the company is likely to start making a cheaper iPhone next year. The stock is flirting with moving towards its all-time highs.

Netflix (NFLX)

Netflix is trading around resistance at $273, and the stock needs to break out to push back to $284. NFLX double bottom on the RSI, suggesting shares are oversold.

Twitter (TWTR)

Twitter is hovering around resistance at $40.35, and a falling wedge pattern may suggest the stock is getting to reverse higher and head towards $43.

Tesla (TSLA)

Tesla has been going nowhere, but the one thing that seems clear is that support continues to hold at $225.

Have a great one!


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