July 23 – Stock mentions: SPY, BABA, NVDAWealth Strength IndexNVDA is Extremely Flat and trending Up, FBWealth Strength IndexFB is Extremely Flat and trending Up, INTCWealth Strength IndexINTC is Extremely Flat and trending Up, MSFTWealth Strength IndexMSFT is Extremely Flat and trending Up
Michael Kramer and the clients of Mott Capital own MSFTWealth Strength IndexMSFT is Extremely Flat and trending Up
- S&P 500 Futures +9 points
- US 10- Year 2.06%
- US Dollar 97.48
- Oil $55.94
- VIX 13.23
- Shanghai +0.45%
- HSI +0.34%
- Nikkei +0.95%
- KOSPI +0.39%
- FTSE +0.61%
- DAX +1.75%
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Stock Market Predictions for July 23:
S&P 500 (SPY)
S&P 500 is pointing to a higher opening and set up to do battle today with resistance around 3,000 and the downtrend. We should find out relatively early on which way the index is heading. I noted last night that an increase above 3,000 signals a breakout and potential for a further rise. However, should it fail it could signal a steeper drop is on the way.
Alibaba’s stock appears to be getting ready to take its next leg higher towards $183.
Facebook is rising and is now attempting to break out at $203. I continue to think FBWealth Strength IndexFB is Extremely Flat and trending Up could head towards $218.
Nvidia looks as if it getting ready to move towards $178.
Microsoft is beginning to look more and more like it is heading for its next leg higher, not lower. A change from my view yesterday, yes, I am aware.
Should Intel rise above $52.50 the stock can work to fill that gap at $57.25
Have a good day.
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