Stocks Are Set To Rise on October 21 Testing Resistance at 3,000

STOCK MENTIONS: BA, BKNGWealth Strength IndexAAPL is Extremely Up and trending Up, ILMNWealth Strength IndexAAPL is Extremely Up and trending Up, CRM, ROKU

MACRO MENTIONS: SPY, GERMAN 10-YEAR, EWG

US Markets

  • S&P 500 Futures +8.25 points
  • US 10-Year 1.78%
  • Dollar Index 97.17
  • Oil $53.48
  • VIX 14.43

International Markets

  • Shanghai +0.05%
  • HSI +0.02%
  • Nikkei +0.25%
  • KOSPI +0.20%
  • UK +0.15%
  • DAX +0.76%

German DAX (EWG)

Watch the DAX. It continues to creep higher, and 12,911 is the next level to watch for.

Germany,

German 10-Year

The German 10-year is also creeping higher; my expectations are for it to rise to around a rate of negative 20 bps. You can now track my macro views on this free Google Spreadsheet tracker. I have opened it up to subscribers and non-subscribers.

german yield

S&P 500 (SPY)

S&P 500 futures are rising this morning, but the index still faces a tremendous amount of resistance around 3,003 on the SP500 futures. If the futures can push through resistance, then it can finally make that run to the new highs. If not, then the index will continue to struggle and perhaps pullback towards 2960. We’ll see, but trying to predict a 1% move up or down these days is nearly impossible.

S&P 500, spx

Boeing (BA)

BA is falling again today following Friday’s steep decline. $317.50 seems like the next significant level to watch for the stock.

Boeing, ba stock chart

Salesforce (CRM)

Salesforce is testing support at $144.50, and if that level fails, it can fall to around $138.

crm, saleforce

Illumina (ILMNWealth Strength IndexAAPL is Extremely Up and trending Up)

Illumina is holding support at $268, and if the stock can get above $315, it can fill the gap up to $360.

ilmn, illumina

Booking (BKNGWealth Strength IndexAAPL is Extremely Up and trending Up)

Booking failed at resistance once at 2080, and if the stock can break out, it has room to push to 2180.

booking bkng

ROKU (ROKU)

Roku is falling today to around $126 and drop below $122 push the stock back towards $100.

roku

Have a great day!

-Mike

This article ppeared first on Mott Capital Management.

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