July 3 – Stock mentions: TSLAWealth Strength IndexAAPL is Extremely Up and trending Up, ROKU, AVGOWealth Strength IndexAAPL is Extremely Up and trending Up, LRCXWealth Strength IndexAAPL is Extremely Up and trending Up, AMZNWealth Strength IndexAAPL is Extremely Up and trending Up
Michael Kramer and the clients of Mott Capital own TESLA
- S&P 500 Futures +8 Points
- US 10-Year 1.96%
- VIX 13.03
- Dollar Index 96.69
- Oil $56.81
- Shanghai -0.94%
- Hong Kong -0.07%
- KOSPI -1.23%
- Nikkei -0.53%
- FTSE +0.76%
- DAX +0.69%
July 3 Trading Session:
ADPWealth Strength IndexAAPL is Extremely Up and trending Up Private Payroll Data- Estimates are for 140,000
S&P 500 (SPY)
S&P 500 futures are rising on July 3 and moving into record territory. Yes, that means we are above the highs from Monday following the G-20 summit. Should the gains in the futures hold, then the S&P 500 is on pace to open at a new high too, at roughly 2,980 and less than 1% from 3,000.
Tesla is rising above the December downtrend and is seeing a significant breakout today. A rise above $260, sends TSLAWealth Strength IndexAAPL is Extremely Up and trending Up back to $298.
Broadcom is falling today after it came out that come is in talks to buy Symantec. One thing that is scary about Broadcom is that they need to continual purchase companies to keep the growth rate up. But the question is, why do they keep looking for companies outside of Chips? It is a diversification strategy, perhaps to increase margins. However, I am just wondering what this company is becoming. Support for the stock is around $280.
I guess we will find out if I will be the wrong on Roku today, as the stock will once again challenge resistance at $94. In the past few days, the stock failed on each attempt.
Lam Research is one stock to keep an eye on. Yesterday, I noted that North American Semi Equipment Billings increased for the second month in a row. Lam is one of those stocks that could see a significant benefit. Resistance is at $210.
Amazon is on the move, and $1965 may be the next stop for AMZNWealth Strength IndexAAPL is Extremely Up and trending Up.
Enjoy the half-day. We will be back Friday morning. I need a break.
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