Stock mentions: ROKU, FCX, SWKS, NVDA, NFLX
Macro mentions: SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SWKS, NFLX
- S&P 500 futures +10.75 points
- US 10-Year 1.88%
- Oil $57.11
- VIX 12.58
- Dollar Index 97.93
- Nikkei +0.11%
- KOSPI +0.01%
- Shanghai –
- HSI +0.57%
- DAX +0.73%
- FTSE +0.35%
S&P 500 futures are rising on hopes that the trade war may de-escalate further, as both sides have “agreed” to start canceling tariffs in phases. As I noted last night, it seems that the idea that the market may pull back is fading and that a continued march higher may continue. The futures are now trading above their previous highs, and that would suggest that 3084 may act as support. I’m not perfect.
Keep an eye on Freeport today; the stock is getting closer to a break out at $11. Should that happen, $11.50 seems possible.
Skyworks is approaching resistance at $100. Should the stock break out, it could rise to around $111.
Nvidia is still on pace to get to $217.
Netflix is holding support at $285, and as long as that continues shares continue to push towards $300.
Roku, what can I say, if you’re lucky it holds support around $122. If not, what can I say? $100.
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