Home » To Make A Deal or Not Make A Deal, That Is The $25 Trillion Question

To Make A Deal or Not Make A Deal, That Is The $25 Trillion Question
The S&P 500 stock market futures are pointing to flat opening despite positive trade headlines, as Boeing sinks.

To Make A Deal or Not Make A Deal, That Is The $25 Trillion Question

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 27- Stock Mentions SPY, IWM, BA, AAPL, NVDA, BABA, AMD

Michael Kramer owns IWM Calls

Michael Kramer and clients of Mott own AAPl

US Trading

  • S&P 500 +3 points
  • US 10-Year 2.04%
  • Oil $58.70
  • Dollar Index 96.22
  • VIX 16.20

International Trading

  • Japan Nikkei +1.19%
  • China Shanghai +0.69%
  • Hong Kong HSI +1.42%
  • South Korea KOSPI +0.59%
  • Germany DAX -0.13%
  • UK FTSE -0.41%

The big news came last night when the SCMP reported the US and China agree to a tentative truce before the G20 summit.  The story is helping to lift the S&P 500 futures. (Premium content:50 Bps Rate Cut In July Was A Long Shot)

South Korea KOSPI

The KOSPI had a good night and is flirting with a break out at 2,136. Why do we care about the KOSPI? Well, when we overlay a chart of the Russell 2000, we can see the similarities.

The Russell is in orange, and the S&P 500 is blue. We can see how closely the Russell is tracking the KOSPI. We can also see how the S&P 500 has outperformed.

South Korea

S&P 500 (SPY)

The S&P 500 futures are pointing to a flat opening on June 27, with the sharp pullback around at 6 am, following Boeing news. From a technical standpoint, we can see the break above the downtrend, and the retest of the breakout. If the break out holds the index’s next level of resistance comes around 2,940.

S&P 500, spy

Boeing (BA)

The chart below shows Boeing is falling sharply and testing the long-term uptrend at $350. I had previously thought that Boeing might continue to rise towards $400, but headline risk continues to be the biggest problem with the stock.

Boeing, BA

Alibaba (BABA)

Alibaba is rising today some and continues to be pointing higher towards $179. BABA plans to raise $10 billion Hong Kong IPO

alibaba, baba

Nvidia (NVDA)

Nvidia continues to advance, and this morning it is rising above resistance at $160. NVDA may be heading to $178.

nvidia, nvda

Apple (AAPL)

Apple is also trending higher towards $209, as the trade truce or deal would greatly help to lift AAPL.

apple, aapl

AMD (AMD)

AMD is still facing lower prices as the stock continues to see a stiff downtrend at $30.70.

amd

Have a good one, see you on the other side.

-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.