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September 4Â – Stock mentions: SPY, EWH, FXI, EWY, EWG, AMZN, AAPL, MU, TSLA
Michael Kramer and the clients of Mott Capital own AAPL and TSLA
US Markets
- S&P 500 Futures +27 points
- US 10-Year 1.48%
- VIX 18.24
- Oil $54.29
- Dollar Index 98.67
International Markets
- KOSPI +1.16%
- Hong Kong +3.9%
- Shanghai +0.93%
- Nikkei +0.12%
- Germany +1.23%
- UK +0.64%
Stocks in Asia jumped following on headlines that HK is withdrawing the extradition bill that sparked the protest in months ago.Â
Hong Kong (EWH)
The result is that Hong Kong rose by almost 4%, and more importantly, rose above the top of the trading range the index has been in since, well, the beginning of August.
Kospi (EWY)
South Korea KOSPI also broke out, rising above the top of the range from August, rising above 1,980.
Shanghai (FXI)
Shanghai also broke out overnight rising above resistance at 2920, and the top of the range since August.
UK
Stocks in Europe are rising too after Boris Johnson lost a critical vote in parliament. It may result in a general election while decreasing the odds of a no-deal Brexit. As a result, the UK FTSE is breaking out rising above the top of the range since, well, the beginning of August. Notice a trend here?
Germany (EWG)
Germany DAX is also rising sharply, also breaking out.
US Markets
S&P 500 (SPY)
That leaves the US markets has the only ones that have yet to take out their August highs. Based on the patterns above, it would seem likely the break out happen here in the US happen, and probably today. The S&P 500 futures show it currently right at resistance at 2935.
Amazon (AMZN)
Amazon is one of the stock that is rising this morning, jumping above $1800, something it has struggled to do. Additionally, the next level would come at $1830, and then $1900.
Apple (AAPL)
Apple is also rising this morning, and rising above $209.50 opens the door to a rise of roughly $214.
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[youtube-feed feed=7]Tesla (TSLA)
Tesla broke the downtrend the other day, and now shares continue to look healthy, as the story continues to evolve into a china growth story of all things. The potential is still there for an increase to $250.
Micron (MU)
Micron is breaking out today, rising above its August resistance levels at $45.50. It sets up a jump to around $48.
German 10-year
In the meantime, look at German 10-Year yields rising towards negative 60 basis points.
US/German Spread
Meanwhile, the spread between US and German 10-years is plunging once again and heading towards 2%.
Dollar (DXY)
Now, the dollar is weakening.
Enjoy the day; suddenly, the glass is looking a little more half full.
-Mike
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.