Stocks Will Try To Rally on September 24 Avoiding Fatal Double Top

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!

Subscribe to the Monster Stock Market Commentary and join the 2,241 subscribers getting it for FREE every day!

Sign-up For My Premium Room

September 24 – Stock mentions: SPY, NFLX, BB, AAPL, GOOGL, SNAP

Michael Kramer and the clients of Mott Capital own NFLX, AAPL, GOOGL

US Markets

  • S&P 500 +9 points
  • 10-Year 1.69%
  • Dollar Index 98.53
  • VIX 14.6
  • Oil $58.00

International Markets

  • Japan +0.09%
  • Shanghai +0.28%
  • KOSPI +0.45%
  • Hong Kong +0.22%
  • Germany +0.03%
  • UK -0.36%

MACRO

S&P 500 (SPY)

The S&P 500 futures are pointing to a higher opening today on headlines that trade talks will resume in two weeks.  For now, the trend in the market is lower and will need to get above 3030 to break that trend and to avoid the potential double top pattern that may be forming.

S&P 500, spx

STOCK

SNAP (SNAP)

SNAP is trading higher today after Guggenheim upgraded the stock to buy from neutral. The next significant level of resistance comes around $18.50.

snap

Blackberry (BB)

Blackberry could never get beyond the downtrend, and the stock now is moving sharply lower following dissappointing results. The stock needs to stay above $6.70 to aviod an even further decline to $5.80.

blackberry, bb

Apple (AAPL)

Apple is rising after Jefferies upgraded the stock to buy from hold. Resistance for the stock is around $222.50.

apple, aapl

Netflix (NFLX)

Netflix had its price target slashed at Pivotal research to $350 from $515. The stock needs to bounce off this uptrend to avoid a decline to the December lows.

netflix, nflx

Alphabet (GOOGL)

Alphabet saw its price target increased by RBC, with the price target going to $1,500 from $1,425. The stock continues to work its way higher towards $1,270.

alphabet, googl

-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.

[mailpoet_subscribers_count]
2,241
[mailpoet_subscribers_count]
2,241
%d bloggers like this: