- S&P 500 Futures – 3 points
- US 10-Year 2%
- Dollar Index 96.02
- VIX 15.36
- Oil $57.67
- China Shanghai -0.87%
- Hong Kong HSI -1.15%
- Japan Nikkei -0.43%
- South Korea KOSPI -0.22%
- Germany DAX +0.01%
- UK FTSE -0.11%
S&P 500 (SPY)
Stocks are pointing to a slightly lower opening for June 25. The 2,940 level offers a solid level of support for the index currently, with the next big level around 2,915. So for now, it would seem like the index has the potential to continue it slow drift lower.
Stocks To Watch
AGN is surging on June 25 after Abbvie agreed to buy AGN for $63 billion. It is the second deal in two weeks and is likely to continue to give the health care and biotech sector a bid.
MSFTWealth Strength IndexMSFT is Extremely Flat and trending Up had its MSFTWealth Strength IndexMSFT is Extremely Flat and trending Up;AMZNWealth Strength IndexAMZN is Moderately Flat and trending Up-Microsoft-Azure-likely-never-sees-AWSlike-margins-says-Jefferies" target="_blank" rel="noopener noreferrer">price target raised at Jefferies to $90 from $80, with an underperform rating, but sees MSFTWealth Strength IndexMSFT is Extremely Flat and trending Up as significantly overvalued. I still think the stock heads to $141.
I continue to think that SNAP heads towards $16.
TSLAWealth Strength IndexTSLA is Extremely Up and trending Up-Oppenheimer-continues-to-expect-better-than-feared-Tesla-deliveries" target="_blank" rel="noopener noreferrer">Opco believes that TSLAWealth Strength IndexTSLA is Extremely Up and trending Up results will come in better than fear for deliveries when the company reports next week. The stock is quickly approaching the downtrend that has plagued TSLAWealth Strength IndexTSLA is Extremely Up and trending Up since December. The next few days will be telling.
BA looks like it may have bullish pennant forming and BA could be on its way to $400.
Have a good one
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. June 25