The Stock Market Rises on June 27 As G20 Optimism Builds
The stock market jumped on June 27 led higher by the small-caps and the Russell 2000 rising by nearly 2%, ahead of tomorrow's rebalance.

The Stock Market Rises on June 27 As G20 Optimism Builds

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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June 27 – Stock mentions: IWM, SPY, TSLA, MU, NVDA, ROKU, T

Michael Kramer and the clients of Mott Capital on TSLA

Michael Kramer owns IWM Calls

Russell 2000 (IWM)

The small-cap stocks had a monster June 27, with the Russell 2000 rising by almost 1.9%. It sets up a potential rise for the index back to 1,564. It also sets up a new uptrend in the index, which is potentially a huge positive. The Russell has been the part of the stock market that has been missing since February, and should this part of the market come online and start moving higher; it could provide a meaningful lift while taking the dependence off the large-cap names.

Tomorrow is the Russell rebalance so there will be some major price movements in many stocks depending upon how much there is to buy or sell of a name. There will be high volume levels and wide price swings.


S&P 500 (SPY)

The S&P 500 has a rising trend line as well, and to some degree, like I said yesterday, a new course appears to be starting.

S&P 500, spx

Tesla (TSLA)

Tesla is now at that point where something is about to happen in the stock. We can see that the wedge is closing quickly, and the trend line is approaching fast. I have been looking for TSLA to rise to around $250. The RSI has been rising, and that would suggest that momentum is still coming into the stock. Wishful thinking on my part? Perhaps. Only time will tell.  It will not be surprising if there be a “leaked” email or two over the next day that will tell us where they are with their deliveries.

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Tesla, tsla, june 27

Micron (MU)

Micron continued to rise on June 27 and is basically at resistance now. The question; does MU have the juice to move even higher? It may, but to be truthful, the best thing that can happen is for MU to pull back and fill the gap at $34 and move higher in a slow and methodical pace.

micron, mu

Nvidia (NVDA)

Nvidia cleared resistance at $160, and now the quest for $178 is on. I noted this yesterday in an article. I still think that is how things are shaping up.

nvidia, nvda

Roku (ROKU)

What’s the saying? If at first, you don’t succeed, try again? Roku did, and it still couldn’t get over resistance. There appears to be a seller out there sitting on. It looks like a bear flag is forming.


AT&T (T)

AT&T is close to that breakout needed to get the stock to $34.25.

AT&T, t

Have a good night!


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.

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