Stocks Gearing Up For Next Leg Up As Rotation Calms, Well, For Now

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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September 11 – Stock mentions AAPL, NFLX, MU, NTES, SPY, XLK, EWG, EWY, EWJ

Michael Kramer and clients of Mott Capital own AAPL and NFLX

US Markets

  • S&P 500 Futures +4 points
  • US 10-Year Yield 1.72%
  • Dollar Index 98.66
  • VIX 15.23
  • Oil $58.10

International Markets

  • Shanghai -0.41%
  • Nikkei +0.96%
  • Hong Kong +1.78%
  • KOSPI +0.84%
  • FTSE +0.96%
  • DAX +0.80%

International Trading

KOSPI (EWY)

The South Korea KOSPI broke above a downtrend today, which could indicate a climb to around 2,100 on the index, a gain of about 2.5%.

south korea

JAPAN (EWJ)

The Nikkei also broke a multi-month downtrend as well, yet another sign of the global rally taking hold.

nikkei

GERMANY (EWG)

We can also see that the DAX is nearing a big level of resistance as well.

dax

Yes, all good signs of improving momentum around the globe.

US Trading

Some recent Macro commentary in my SA Marketplace RTM, first 2 weeks free

S&P 500 (SPY)

The US futures are flat, but it appears the index is getting ready for its next move higher towards 3,000. We can see the trend in the S&P 500 futures have turned higher and should benefit from the global buying.

s&P 500, spy

Technology ETF (XLK)

Keep an eye the technology XLK ETF today to see how the rotation is going. Despite all the volatility, the trend is still safely higher.

technology, xlk

Stocks

Some recent articles on Stocks in my SA Marketplace RTM, first 2 weeks free

Apple (AAPL)

Apple is the stock in focus today following the big event yesterday. The stock is once again approaching resistance at $217. A break out sends the stock towards around $222.

Apple, AAPL

Netflix (NFLX)

Netflix will also be in focus because of the “increasing competition.” The chart hasn’t changed all that much, to be honest. Just more of the same when it comes to the falling wedge.

netflix, nflx

Micron (MU)

Micron is jumping today after Wells Fargo upgraded the stock. I continue to think that $54 is on the table for the stock.

Micron, mu

Netease (NTES)

A member asked to take a look a Netease, but I have never looked at this stock before and know basically nothing about it. Even, the chart appears painful to grasp for me. My best guess is that there is a megaphone pattern forming, and perhaps the stock rises to around $320 based on the chart.

netease, net

That’s all

-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.

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