September 16 – Stock mentions: SPY, BKNGWealth Strength IndexAAPL is Extremely Up and trending Up, CVX, TSLAWealth Strength IndexAAPL is Extremely Up and trending Up, ROKU, AMD
Michael Kramer and the client of Mott Capital own TSLAWealth Strength IndexAAPL is Extremely Up and trending Up
- S&P 500 Futures -12 points
- US 10-Year Treasury 1.85%
- VIX 15.11
- Dollar Index 98.44
- Oil $60.14
- Japan Nikkei +1.05%
- HK HSI -0.83%
- Shanghai -0.02%
- South Kospi +0.64%
- Germany DAX -0.51%
- FTSE -0.14%
Oil prices are rising today following the drone attacks. However, at the moment prices are well below resistance level at $61.70. So we can continue to watch, I don’t expect the prices to stay at these levels above $60 for too long.
S&P 500 Futures (SPY)
I know futures are down, but I don’t expect this to be a big down day, not based on international trading. I think it is more likely the markets finish higher today. S&P 500 futures have recovered mainly a good portion of their losses from overnight, and the trend for the market is still mostly higher.
Booking is nearing a big level of resistance at $2,080. I think an increase above that level can get the stock moving back to its all-time highs.
Chevron is rising today up to resistance at $127.25. Be careful; the stock has failed at that price three times since late 2018.
Tesla is consolidating nicely just below resistance at $253 and could be gearing up for a test of resistance at $261.
Roku is trading down this morning and nearing support at $143. A drop below that support level sets up that next leg lower.
AMD continues to look very weak, and I continue to believe that the stock is likely heading lower. A drop below $29.40 could result in a decline to around $27.25.
Have a good day.
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