Stocks Will Try To Break Out Again, This Time on Dec. 19

US Markets

S&P 500 Futures – Flat
10-Year 1.95%
Dollar Index 97.32
VIX 12.55
Oil $60.97

International Markets

Japan -0.29%
HK -0.30%
China Flat
KOSPI +0.08%
Germany -0.32%
UK +0.21%

S&P 500 (SPY)

S&P 500 futures are pointing to a higher opening on December 19. Once again, the index will attempt to push higher and break free of its recent sideways trading zone. The chart for the futures shows how the S&P 500 continues to hover below 3,200. The trend is still higher, and it seems as if today could be the day that we final push above it.

S&P 500, spy

Rates

10-Year rates are very close to surging much higher. The current rate is around 1.95%, and the chart shows it is butting up against resistance at 1.95%. A push above this level sends the 10-year up to approximately 2.15%.

10-year

Cisco (CSCO)

Cisco was upgraded to Overweight from Equal Weight with a $53 price target at Barclays. The stock continues to work its way higher, filling the gap, and could move towards $48.

Cisco, csco

Micron (MU)

Micron is trading higher above $55 this morning, following its results. Revenue guidance comes in better than expected, while earnings guidance was lighter — this a sign of margin weakness for the business. Still, investors appear to be looking ahead at the potential for a better DRAM and NAND environment. The next significant level of resistance comes around $58.

micron, mu

AT&T (T)

AT&T has been slowly grinding higher and recovering from its mid-November plunge. If the stock can get above $39.25, then a push to $41.80 seems possible.

at&t, t

Tesla (TSLA)

We will continue to watch Tesla today; the stock surged to an all-time yesterday. This has to be to one the turnaround story of 2019. Shares hit a low of about $177 on June 3. Since that time, the stock has more than doubled. The region of $385 to $390 should act as a strong support region going forward.

tesla, tsla