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Some recent Macro videos in my SA Marketplace RTM, first 2 weeks free:
- The Fed Is On Deck For The Week Of September 16
- The Outlook For Stocks May Be Growing Stronger
- Sector Rotation Speak Of A Return To Growth
- JD.Com Seeing Bullish Betting
- The Biggest Fear Trade Is Yet To Come
- Intel Is Nearing A Big Break Out
- Netflix Still Has Some Life Left
September 16 - Stock mentions: SPY, BKNG, CVX, TSLA, ROKU, AMD
Michael Kramer and the client of Mott Capital own TSLA
- 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. Premium content: first two weeks are free - AMD Stock Is Looking Very Weak
Have a good day.
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