Stocks Will Try To Break Out Again, This Time on December 19
Stocks were stuck yesterday and unable to break out, so now they will try again, but this time on December 19.

Stocks Will Try To Break Out Again, This Time on December 19

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.

Otherwise, enjoy the column!

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DECEMBER 19, 2019


Macro: SPY, Rates

US Markets

  • S&P 500 Futures – Flat
  • 10-Year 1.95%
  • Dollar Index 97.32
  • VIX 12.55
  • Oil $60.97

International Markets

  • Japan -0.29%
  • HK -0.30%
  • China Flat
  • KOSPI +0.08%
  • Germany -0.32%
  • UK +0.21%


S&P 500 (SPY)

S&P 500 futures are pointing to a higher opening on December 19. Once again, the index will attempt to push higher and break free of its recent sideways trading zone. The chart for the futures shows how the S&P 500 continues to hover below 3,200. The trend is still higher, and it seems as if today could be the day that we final push above it.

S&P 500, spy


10-Year rates are very close to surging much higher. The current rate is around 1.95%, and the chart shows it is butting up against resistance at 1.95%. A push above this level sends the 10-year up to approximately 2.15%.


Cisco (CSCO)

Cisco was upgraded to Overweight from Equal Weight with a $53 price target at Barclays. The stock continues to work its way higher, filling the gap, and could move towards $48.

Cisco, csco

Micron (MU)

Micron is trading higher above $55 this morning, following its results. Revenue guidance comes in better than expected, while earnings guidance was lighter — this a sign of margin weakness for the business. Still, investors appear to be looking ahead at the potential for a better DRAM and NAND environment. The next significant level of resistance comes around $58.

micron, mu

AT&T (T)

AT&T has been slowly grinding higher and recovering from its mid-November plunge. If the stock can get above $39.25, then a push to $41.80 seems possible.

at&t, t

Tesla (TSLA)

We will continue to watch Tesla today; the stock surged to an all-time yesterday. This has to be to one the turnaround story of 2019. Shares hit a low of about $177 on June 3. Since that time, the stock has more than doubled. The region of $385 to $390 should act as a strong support region going forward. Premium content – get the first two-weeks free when you sign-up Tesla’s Stock May Continue Higher On Bullish Change In Trends

tesla, tsla

Amazon (AMZN)

Amazon continues to go nowhere, and until it gets over $1850, that is likely to remain the case.

Amazon, amzn

Have a good one.


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