5 Stocks To Watch As The Market Heads For a Record High on July 1

US Trading

  • S&P 500 futures +33.50
  • US 10-Year Yield 2.01%
  • Dollar Index 96.49
  • Oil 59.85
  • VIX 13.93

International Trading

  • Nikkei +2.13%
  • China Shanghai +2.22%
  • Hong Kong HSI -0.28%
  • South Korea Kospi -0.04%
  • Germany DAX +1.26%
  • UK FTSE +1.23%

Trading for July 1

S&P 500 Futures

S&P 500 Futures on July 1 are at a record high around 2,980. Perhaps the index can finally conquer 3,000.

S&P 500, spy

S&P 500, spy

S&P 500 Cash (SPY)

Based on the futures, the index should rise above 2,970 to start. It will hopefully be enough now to help the index break what has become a triple top around the 2940 to 2,950 region. That level should now serve a powerful level of technical support in the future.

S&P 500, spy

S&P 500, spy

Apple (AAPLWealth Strength IndexAAPL is Extremely Flat and trending Down)

Apple is trading around $204 this morning, and the AAPLWealth Strength IndexAAPL is Extremely Flat and trending Down is likely on its way towards $209 now.

aapl, apple

aapl, apple

Qualcomm (QCOMWealth Strength IndexQCOM is Moderately Flat and trending Up)

Qualcomm is rising, and $82 is its next level of resistance.

qualcomm, qcom

qualcomm, qcom

Tesla (TSLAWealth Strength IndexTSLA is Extremely Down and trending Down)

Tesla is rising today, and we should have delivery results no later than July 3. TSLAWealth Strength IndexTSLA is Extremely Down and trending Down is testing the downtrend, an increase above the downtrend sends the stock towards $250. This is a big moment for the stock.  A record quarter is very close.

tesla, tsla

tesla, tsla

The Yuan (FXI)

The yuan is trading to 6.84 and has strengthened materially in the last few session. A significant positive for JDWealth Strength IndexJD is Extremely Flat and trending Down and Alibaba. It could be on its way to 6.70.

yuan

yuan

Alibaba (BABA)

Alibaba is heading twoards $182.

baba, stock, july 1

baba, stock, july 1

JDWealth Strength IndexJD is Extremely Flat and trending Down (JDWealth Strength IndexJD is Extremely Flat and trending Down)

JDWealth Strength IndexJD is Extremely Flat and trending Down is testing resistance at $31.50.

jd, stock, july 1

jd, stock, july 1

Enjoy the record-setting day.

-Mike

This article first appeared on Mott Capital.

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.