Stocks Are Set To Rise On October 15 As Earnings Stampede Begins

OCTOBER 15 – STOCK MENTIONS: NFLXWealth Strength IndexAAPL is Extremely Up and trending Up, ROKU, SQ, JPM, JNJ

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NETFLIX

US Markets

  • S&P 500 Futures +9.5
  • US 10-Year 1.68%
  • Dollar Index 98.48
  • VIX 14.25
  • Oil $52.61

International Markets

  • Shanghai -0.56%
  • Hong Kong -0.07%
  • Japan +1.87%
  • South Korea +0.04%
  • Germany +0.60%
  • UK -0.19%

MACRO

S&P 500 (SPY)

S&P 500 futures are pointing to a higher opening today with the futures pushing up against resistance at 2980. It would seem for now the market is choosing to forgo the gap at 2940 we have been watching in the cash market. If we can continue to hold or get above 2980 on the futures, then perhaps we can make that push higher towards the all-time once again.

S&P 500, spy

STOCKS

Netflix (NFLXWealth Strength IndexAAPL is Extremely Up and trending Up)

Netflix will report results tomorrow after the close. NFLXWealth Strength IndexAAPL is Extremely Up and trending Up is sitting below a downtrend, which is acting as resistance. Should the stock rise above that price, the stock would have room to rise to $300. A push back to $300 ahead of results would be an incredible feat for the stock ahead of results, given where shares were in late September.

netflix, nflx

Roku (ROKU)

Roku fell yesterday, filling a small gap, and it should be interesting to see if this stock can get above $122. If it can rise above that level it may push towards $135 seems possible.

roku

Square (SQ)

Square is rising today after UBS initiated the stock with a Buy and $81 price target. The stock has been able to break out of a downtrend, and right now is hovering around resistance at $62. It could be a making a push towards $65.

sq

JPMorgan (JPM)

JPMorgan should have a solid day after reporting stunning results. Earnings came in at $2.68 per share versus expectations of $2.46. Meanwhile, revenue beat too, at $30.1 billion versus estimates of $28.36. Huge beat on the top and the bottom. Resistance for the stock comes around $119.70.

jpm

Johnson and Johnson (JNJ)

Johnson and Johnson also reported better than expected results and upped its full-year guidance to $8.62 to $8.67, which is up from $8.53 to $8.63. The stock’s next level of resistance will come at $136.73.

jnj, johnson and johnson

Have a great day!

-Mike

This article appeared first on Mott Capital Management.

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