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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Septemeber 5 – Stock mentions: SPY, EWJ, CSCO, AAPL, AMZN, TWTR, MU
Michael Kramer and the clients of Mott Capital own AAPL and CSCO
US Markets
- S&P 500 Futures +25 points
- US 10-Year 1.52%
- VIX 16.5
- Dollar Index 98.20
- Oil $56.25
International Markets
- Nikkei +2.12%
- Shanghai +0.94%
- HSI -0.03%
- KOSPI +0.82%
- UK -0.60%
- DAX +0.80%
Markets are rising on the hopes of a thawing trade war between the US and China as both sides agree to meet in October. The result is a strong rally overnight in the Asian markets, which continued to strengthen following yesterday’s breakouts. Premium content: The Break Outs Heard ‘Round The World
Japan (EWJ)
The Nikkei joined the party, as it rose above its August highs overnight.
Germany 10-Year
Also, keep an eye on the German 10-Year, which is now approaching a resistance level at -0.60%. As global risks continue to look a little less scary, we could see the further unwind of the risk aversion trade.
S&P 500 Futures (SPY)
The S&P 500 futures cleared resistance at 2936 and rose directly to 2962.
S&P 500 Cash (SPY)
The next significant level for the S&P 500 comes around the 2975 mark, and then back at 3,000.
Apple (AAPL)
Apple is rising this morning above resistance at $209.50 and appears it is also ready to take out its August highs of roughly $215. It sets up a potential move higher towards $218.
Amazon (AMZN)
Amazon is moving over $1800, and it is getting ready to challenge its Augst highs of approximately $1830. If that happens, it moves on to $1900.
Micron (MU)
Micron is rising today and is inching closer to its next level of resistance at $48.75.
Cisco (CSCO)
Cisco appears to have broken a downtrend, setting up a push back to $49.30.
Twitter (TWTR)
Twitter is still on the rise, and the path to $46 is now working.
Enjoy the day.
-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.