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Some recent Macro and Stock content in my SA Marketplace RTM, first 2 weeks free:
- What You Need To Watch For The Week Of Sept 30
- Biotech, Health Care Cracking
- Stocks Crack
- Paving A Longer-Term Move Higher For Stocks
- Micron Will Be The Key To The Week Of September 22
- Market Showing Cracks, Plus Netflix And Roku
- Momentum Vs. Value Is Back
- Facebook May Be Breaking Out
- The Stock Market Rally May Be Nearing A Peak
Monster Stock Market Commentary
Stocks Will Try To Rebound on September 30, But It Isn't Looking Good By Michael Kramer
September 30 -Stock mentions: SPY, EWY, EWG, EWH, JD, BABA, SHOP, MSFT, TWTR
Michael Kramer and the clients of Mott Capital own MSFT
US Markets S&P 500 Futures +9 points US 10-Year 1.7% VIX 17.01 Oil $55.81 Dollar Index 99.22 International Markets Shanghai -0.92% HSI +0.53% KOSPI +0.64% Nikkei -0.56% Germany - 0% UK -0.23% MACRO South Korea (KOSPI)
The Kospi has been pulling back in recent days after failing at resistance at 2,107.
Hong Kong (EWH)
Hong Kong has given back nearly all of its early September gains.
Germany is also now trending lower.
S&P 500 (SPY)
S&P futures are pointing to a slightly higher opening for the S&P 500 by roughly 30 basis points. For now, the index will face some resistance at 2975. That is where the index will run into a level of resistance and a downtrend. It will be an important level to watch. A break out starts the next move higher; a failure sends the index lower towards 2935. Premium content, get the first two weeks free - What You Need To Watch For The Week Of Sept 30
It also appears that the number of stock above their 50-day moving average still has some further to fall.
STOCKS JD (JD)
JD.com is bouncing some this morning off of support at $27.50, but this stock is beholden to headline risk, and that makes reading the charts nearly impossible. Resistance comes at $29.35.
Alibaba is in the same mess, with support at $166.50 and resistance at $179.75.
Twitter has broken the uptrend and support at $43, a drop below $40.35 sets up a steeper decline to $36.50.
Shopify needs to get above $315 to avoid a retest of support at $285.
Microsoft continues to trend higher, but it is also struggling to rise above $142. Watch for the trend higher to continue in the days and weeks ahead, with an eventual break out above $142.
Have a great day!
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