- S&P 500 Futures +16 points
- US 10-year 2.03%
- Dollar Index 97.66
- Oil $51.84
- VIX 15.04
- Japan Nikkei -0.72%
- China Shanghai +0.09%
- Hong Kong HSI +1%
- South Korea +0.38%
- Germany DAX 1.21%
- UK FTSE +0.82%
Draghi Beat Powell Yet Again!
Yields are falling on June 18, and the dollar is rising this morning after Draghi made very dovish comments. Once again, Draghi is out in front of Powell and controlling the course of Monetary policy. The 10-year German Bund is now at -0.30. That is, of course, dragging the US 10-year lower as well. What will the Fed do now? Perhaps Powell can beat Draghi tomorrow and cut rates.
S&P 500 Futures (SPY)
The S&P 500 futures are trading at their highest levels on June 18 since early May and signaling a breakout above resistance at 2895 for the S&P 500 cash market.
Facebook was trading around $194, hitting resistance in the premarket.
The US dollar vs. China yuan has stabilized, and that is allowing for both JDWealth Strength IndexJD is Extremely Up and trending Up.com and Baba to stabilize as well.
Alibaba can probaly rise to around $166.
JDWealth Strength IndexJD is Extremely Up and trending Up (JDWealth Strength IndexJD is Extremely Up and trending Up)
I also think JDWealth Strength IndexJD is Extremely Up and trending Up can rise to around $29.30. I wrote premium content about this last week.
Tesla is clearing $225 this morning, and $250 I believe is finally next. I noted bullish trends and options activity in TSLAWealth Strength IndexTSLA is Extremely Up and trending Up last week in the premium section as well.
Amazon is challenging resistance today $1900, setting up a potential run to $1960.
No commentary tonight. I’m taking my kids to see a certain YouTube Star’s performance. The power of YouTube is impressive.
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.