Stocks Are Set To Surge As The Global Break Out Enters Day 2
Stocks are set to surge again as the global stock market rally enters day two on September 5 with the S&P 500 set to gain.

Stocks Are Set To Surge As The Global Break Out Enters Day 2

by Michael Kramer

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.

Nikkei

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.

germany

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.

SPX, s&P 500

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.

Apple, aapl

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.

Amazon, amzn

Micron (MU)

Micron is rising today and is inching closer to its next level of resistance at $48.75.

Micron, mu

Cisco (CSCO)

Cisco appears to have broken a downtrend, setting up a push back to $49.30.

Cisco, csco

Twitter (TWTR)

Twitter is still on the rise, and the path to $46 is now working.

twitter, twtr

Enjoy the day.

-Mike

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