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

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

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%.

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JAPAN

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

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GERMANY

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

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

US Trading

S&P 500

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.

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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.

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Stocks

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

• AMD Stock Is Looking Very Weak
• Betting Square Falls
• Why Freeport And Copper May Be Heading Higher

Apple (AAPL)

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.

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Netflix (NFLX)

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.

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Micron (MU)

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

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Netease (NTES)

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.

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That’s all