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
- S&P 500 Futures +4 points
- US 10-Year Yield 1.72%
- Dollar Index 98.66
- VIX 15.23
- Oil $58.10
- Shanghai -0.41%
- Nikkei +0.96%
- Hong Kong +1.78%
- KOSPI +0.84%
- FTSE +0.96%
- DAX +0.80%
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%.
The Nikkei also broke a multi-month downtrend as well, yet another sign of the global rally taking hold.
We can also see that the DAX is nearing a big level of resistance as well.
Yes, all good signs of improving momentum around the globe.
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.
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.
Some recent articles on Stocks in my SA Marketplace RTM, first 2 weeks free
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.
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.
Micron is jumping today after Wells Fargo upgraded the stock. I continue to think that $54 is on the table for the stock.
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.
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