Stocks Gearing Up For Next Leg Up As Rotation Calms, Well, For Now

September 11 – Stock mentions AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up, NFLXWealth Strength IndexNFLX is Moderately Flat and trending Up, MUWealth Strength IndexMU is Moderately Flat and trending Up, NTESWealth Strength IndexNTES is Moderately Flat and trending Up, SPY, XLK, EWG, EWY, EWJ

Michael Kramer and clients of Mott Capital own AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up and NFLXWealth Strength IndexNFLX is Moderately Flat and trending Up

US Markets

  • S&P 500 Futures +4 points
  • US 10-Year Yield 1.72%
  • Dollar Index 98.66
  • VIX 15.23
  • Oil $58.10

International Markets

  • Shanghai -0.41%
  • Nikkei +0.96%
  • Hong Kong +1.78%
  • KOSPI +0.84%
  • FTSE +0.96%
  • DAX +0.80%

International Trading

KOSPI (EWY)

The South Korea KOSPI broke above a downtrend today, which could indicate a climb to around 2,100 on the index, a gain of about 2.5%.

south korea

south korea

JAPAN (EWJ)

The Nikkei also broke a multi-month downtrend as well, yet another sign of the global rally taking hold.

nikkei

nikkei

GERMANY (EWG)

We can also see that the DAX is nearing a big level of resistance as well.

dax

dax

Yes, all good signs of improving momentum around the globe.

US Trading

Some recent Macro commentary in my SA Marketplace RTM, first 2 weeks free

S&P 500 (SPY)

The US futures are flat, but it appears the index is getting ready for its next move higher towards 3,000. We can see the trend in the S&P 500 futures have turned higher and should benefit from the global buying.

s&P 500, spy

s&P 500, spy

Technology ETF (XLK)

Keep an eye the technology XLK ETF today to see how the rotation is going. Despite all the volatility, the trend is still safely higher.

technology, xlk

technology, xlk

Stocks

Some recent articles on Stocks in my SA Marketplace RTM, first 2 weeks free

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

Apple is the stock in focus today following the big event yesterday. The stock is once again approaching resistance at $217. A break out sends the stock towards around $222.

Apple, <a href=AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up" width="1188" height="539" data-lazy-type="image" />

Apple, <a href=AAPLWealth Strength IndexAAPL is Moderately Flat and trending Up" width="1188" height="539" />

Netflix (NFLXWealth Strength IndexNFLX is Moderately Flat and trending Up)

Netflix will also be in focus because of the “increasing competition.” The chart hasn’t changed all that much, to be honest. Just more of the same when it comes to the falling wedge.

netflix, nflx

netflix, nflx

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

Micron is jumping today after Wells Fargo upgraded the stock. I continue to think that $54 is on the table for the stock.

Micron, mu

Micron, mu

Netease (NTESWealth Strength IndexNTES is Moderately Flat and trending Up)

A member asked to take a look a Netease, but I have never looked at this stock before and know basically nothing about it. Even, the chart appears painful to grasp for me. My best guess is that there is a megaphone pattern forming, and perhaps the stock rises to around $320 based on the chart.

netease, net

netease, net

That’s all

-Mike

This article appeared first on Mott Capital Management.

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