Stocks Are Set To Surge As The Global Break Out Enters Day 2

Septemeber 5 – Stock mentions: SPY, EWJ, CSCOWealth Strength IndexCSCO is Moderately Flat and trending Down, AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up, AMZNWealth Strength IndexAMZN is Moderately Flat and trending Up, TWTRWealth Strength IndexTWTR is Extremely Down and trending Down, MUWealth Strength IndexMU is Extremely Flat and trending Up

Michael Kramer and the clients of Mott Capital own AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up and CSCOWealth Strength IndexCSCO is Moderately Flat and trending Down

US Markets

  • S&P 500 Futures +25 points
  • US 10-Year 1.52%
  • VIX 16.5
  • Dollar Index 98.20
  • Oil $56.25

International Markets

  • Nikkei +2.12%
  • Shanghai +0.94%
  • HSI -0.03%
  • KOSPI +0.82%
  • UK -0.60%
  • DAX +0.80%

Markets are rising on the hopes of a thawing trade war between the US and China as both sides agree to meet in October. The result is a strong rally overnight in the Asian markets, which continued to strengthen following yesterday’s breakouts.

Japan (EWJ)

The Nikkei joined the party, as it rose above its August highs overnight.

Nikkei

Nikkei

Germany 10-Year

Also, keep an eye on the German 10-Year, which is now approaching a resistance level at -0.60%. As global risks continue to look a little less scary, we could see the further unwind of the risk aversion trade.

germany

germany

S&P 500 Futures (SPY)

The S&P 500 futures cleared resistance at 2936 and rose directly to 2962.

S&P 500 Cash (SPY)

The next significant level for the S&P 500 comes around the 2975 mark, and then back at 3,000.

SPX, s&P 500

SPX, s&P 500

Apple (AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up)

Apple is rising this morning above resistance at $209.50 and appears it is also ready to take out its August highs of roughly $215. It sets up a potential move higher towards $218.

Apple, aapl

Apple, aapl

Amazon (AMZNWealth Strength IndexAMZN is Moderately Flat and trending Up)

Amazon is moving over $1800, and it is getting ready to challenge its Augst highs of approximately $1830. If that happens, it moves on to $1900.

Amazon, amzn

Amazon, amzn

Micron (MUWealth Strength IndexMU is Extremely Flat and trending Up)

Micron is rising today and is inching closer to its next level of resistance at $48.75.

Micron, mu

Micron, mu

Cisco (CSCOWealth Strength IndexCSCO is Moderately Flat and trending Down)

Cisco appears to have broken a downtrend, setting up a push back to $49.30.

Cisco, csco

Cisco, csco

Twitter (TWTRWealth Strength IndexTWTR is Extremely Down and trending Down)

Twitter is still on the rise, and the path to $46 is now working.

twitter, twtr

twitter, twtr

Enjoy the day.

-Mike

This article appeared first on Mott Capital Management.

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