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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June 11 – Stock Mentions: SPY, INTC, AVGO, MU, AAPL, AMZN
Michael Kramer and the clients of Mott Capital own AAPL stock
- S&P 500 Futures +14 points
- US 10-Year 2.17%
- Dollar Index 96.76
- Oil $53.64
- VIX 15.59
- China Shanghai +2.58%
- Hong Kong HSI +0.76%
- Japan Nikkei +0.33%
- South Korea KOSPI +0.59%
- Germany DAX +1.32%
- UK FTSE +0.49%
S&P 500 (SPY) Pointing to Higher Opening on June 11
The S&P 500 is pointing to a higher opening again on June 11. For now, the SPY ETF is trading back to yesterday’s highs, and if the rally holds, it seems that 291.50 is the next level of the ETF to reach.
The 10-year US Treasury is rising above resistance at 2.14%, and that could be setting up an increase to 2.31% over the next few weeks. The overall trend is still lower, so this rise in yields seems more like a bounce than a change of direction.
Intel has started showing significant improvements in recent days and it begins to look as if INTC can rise to around $50.70.
Broadcom will report results later this week, and the stock is nearing a potentially big break out at $290. It may be setting up an increase in AVGO to around $307.
Micron is also on the move higher on June 11, and $36.40 appears to be the level that MU is heading too. A rise above $36.40 could be creating an opportunity for further increase, as it would likely form a bullish double bottom technical pattern.
Apple tried to and failed to break out yesterday. But today AAPL will again get the opportunity to challenge resistance at $195. $199 will be the level to look for if Apple can get above $195 today, which I think it will.
Amazon is rising again this morning, and $1905 seems more and more likely with the potential to increase to around $1966. Premium content: Why Tesla And Amazon May Rise Further
Have a great day!
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