June 20 – Stock Mentions: SPY, IWM, AMZNWealth Strength IndexAMZN is Extremely Flat and trending Up, AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, QCOMWealth Strength IndexQCOM is Extremely Flat and trending Down, JDWealth Strength IndexJD is Extremely Up and trending Up, NFLXWealth Strength IndexNFLX is Extremely Down and trending Down
Michael Kramer owns IWM Calls
Michael Kramer and the clients of Mott Capital own AAPLWealth Strength IndexAAPL is Extremely Up and trending Up and NFLXWealth Strength IndexNFLX is Extremely Down and trending Down
- S&P 500 Futures +25 points
- 10-Year 2.01%
- VIX 13.79
- Dollar Index 96.66
- Oil $55.53
- Japan Nikkei +0.6%
- China Shanghai +2.38%
- Hong Kong HSI +1.23%
- South Korea KOSPI +0.31%
- UK FTSE +0.34%
- German DAX +0.90%
There’s a global stock market rally on June 20 following the Fed’s dovish monetary policy. Rates are falling, and the risk appetite for the market is coming into play.
I highlighted last night during the international trading sessions, in the StockTwits premium room, that the Asia markets were breaking out.
The Shanghai Composite had a strong showing overnight and is likely on the way back towards 3,100.
The South Korea KOSPI also broke a significant downtrend last night.
It always a good sign when you have global markets rising along with the US serving as confirmation.
US Trading for June 20
S&P 500 (SPY)
The S&P 500 Futures are pointing to a strong opening on June 20 and are flirting with their record highs. The futures are so close that it is literally touching it.
Russell 2000 (IWM)
The Russell ETF – IWM is also pointing to a sharply higher opening for the Russell 2000. The IWM appears to be on pace to rise back to $161. We can see the rising-triangle formation, which would suggest the ETF break resistance on June 20 at $156.
NFLXWealth Strength IndexNFLX is Extremely Down and trending Down is breaking its downtrend and is at least on pace to challenge $380 again. Just ahead of Dark season 2 tomorrow! What a great show, it is German, but it is up there with Stranger Things. I highly recommend it.
AMZNWealth Strength IndexAMZN is Extremely Flat and trending Up appears to be breaking out and will challenge resistance at $1,966.
AAPLWealth Strength IndexAAPL is Extremely Up and trending Up got a significant price target increase from Cascend Securities going to $240 from $210. The firm is seeing substantial iPhone volumes increases. I already noted earlier this week the stock was breaking out and could move to around $209 based on options and the chart. But you had to be a member of the SA premium room to get all that info.
JDWealth Strength IndexJD is Extremely Up and trending Up (JDWealth Strength IndexJD is Extremely Up and trending Up)
I also noted that JDWealth Strength IndexJD is Extremely Up and trending Up.com would rise to around $30 last week. It looks like that may be right.
I think QCOMWealth Strength IndexQCOM is Extremely Flat and trending Down is heading back to $76.
I’m sorry, I’m a little bit excited today. It feels good to see the market rising to new records as I was expecting it too. I have been the minority for some time going back to December. At times I felt like I have been out there all alone, but it seems my determination and confidence in my views is prevailing. Thank you for all your support.
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