Stocks Will Try To Rebound In a Big Way on June 26

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

Otherwise, enjoy the column!

Subscribe to the Monster Stock Market Commentary and join the 1,719 subscribers getting it for FREE every day!

June 26, 2019 – Stock Mentions: SPY, MUWealth Strength IndexAAPL is Extremely Up and trending Up, TSLAWealth Strength IndexAAPL is Extremely Up and trending Up, BABA, INTCWealth Strength IndexAAPL is Extremely Up and trending Up, QCOMWealth Strength IndexAAPL is Extremely Up and trending Up

Michael Kramer and the clients of Mott Capital own TSLAWealth Strength IndexAAPL is Extremely Up and trending Up

US Markets

  • S&P 500 +15.5 points
  • 10-Year US Yield 2.03%
  • VIX 15.74
  • Oil $58.84
  • Dollar Index 96.27

International Markets

  • Japan Nikkei -0.51%
  • China Shanghai -0.19%
  • Hong Kong HSI +0.13%
  • South Korea Kospi +0.01%
  • Germany Dax +0.60%
  • UK FTSE +0.11%

Stocks For June 26

S&P 500 (SPY)

S&P 500 futures are trading higher on June 26 after Treasury Sec. Mnuchin made some positive comments on trade talks with China. It doesn’t sound like anything new to me. So be careful trading around this news.

There was a lot of damage down yesterday on the charts, and so today’s rally faces several challenges. You can see in the E-mini’s that there are now two downtrends and a resistance level at 2,943. It will not be easy to regain the positive momentum we saw last week.

S&P 500, June 26

S&P 500, June 26

Micron (MUWealth Strength IndexAAPL is Extremely Up and trending Up)

Micron is spiking by about 10% following its results. However, the path higher is not easy from here, as MUWealth Strength IndexAAPL is Extremely Up and trending Up needs to get over resistance at $36.40. I still believe MUWealth Strength IndexAAPL is Extremely Up and trending Up can work towards $38.70.

micron, mu

micron, mu

Tesla (TSLAWealth Strength IndexAAPL is Extremely Up and trending Up)

Tesla is continuing to battle resistance at $225 and may receive a boost after a “leaked” email shows the company is near a record quarter.

$225 is the battleground for TSLAWealth Strength IndexAAPL is Extremely Up and trending Up because of resistance and the downtrend. However, we can see the falling wedge pattern, and that is a bullish reversal pattern. I continue to believe TSLAWealth Strength IndexAAPL is Extremely Up and trending Up is heading towards $250 and potential higher.

tsla, tesla, june 26, stock

tsla, tesla, june 26, stock

Alibaba (BABA)

The Chinese Yuan has been strengthening in recent days, and that should be positive for Alibaba. BABA been consolidating nicely around $166 and could be on its way back to $179.

alibaba, june 26, stock

alibaba, june 26, stock

Intel (INTCWealth Strength IndexAAPL is Extremely Up and trending Up)

Intel appears it too is getting ready to break out and rise towards $49.

intel, intc

intel, intc

Qualcomm (QCOMWealth Strength IndexAAPL is Extremely Up and trending Up)

QCOMWealth Strength IndexAAPL is Extremely Up and trending Up continues to work its way towards $76.50

qualcomm, qcom

qualcomm, qcom

Good Luck today!

-Mike

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.  June 26June 26

This article appeared first on Mott Capital Management.