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.
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STOCK MENTIONS: BA, BKNG, ILMN, CRM, ROKU
MACRO MENTIONS: SPY, GERMAN 10-YEAR, EWG
THANK YOU MARKETWATCH FOR MAKING THIS WEEKEND’S COMMENTARY Is The Glass Half Full or Empty, or Merely Too Big – Perspective Matters – YOUR MONDAY CALL OF THE DAY: Why the stock market has a ‘great distance to rise’ in the coming years
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LISTEN TO THIS WEEK’S PODCAST:
- S&P 500 Futures +8.25 points
- US 10-Year 1.78%
- Dollar Index 97.17
- Oil $53.48
- VIX 14.43
- Shanghai +0.05%
- HSI +0.02%
- Nikkei +0.25%
- KOSPI +0.20%
- UK +0.15%
- DAX +0.76%
German DAX (EWG)
Watch the DAX. It continues to creep higher, and 12,911 is the next level to watch for.
The German 10-year is also creeping higher; my expectations are for it to rise to around a rate of negative 20 bps. You can now track my macro views on this free Google Spreadsheet tracker. I have opened it up to subscribers and non-subscribers.
S&P 500 (SPY)
S&P 500 futures are rising this morning, but the index still faces a tremendous amount of resistance around 3,003 on the SP500 futures. If the futures can push through resistance, then it can finally make that run to the new highs. If not, then the index will continue to struggle and perhaps pullback towards 2960. We’ll see, but trying to predict a 1% move up or down these days is nearly impossible.
BA is falling again today following Friday’s steep decline. $317.50 seems like the next significant level to watch for the stock.
Salesforce is testing support at $144.50, and if that level fails, it can fall to around $138.
Illumina is holding support at $268, and if the stock can get above $315, it can fill the gap up to $360.
Booking failed at resistance once at 2080, and if the stock can break out, it has room to push to 2180.
Roku is falling today to around $126 and drop below $122 push the stock back towards $100.
Have a great day!
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.