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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.
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[youtube-feed feed=7]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
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Charts used with the permission of Bloomberg Finance L.P. This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.