5 Monster Stocks Plus Gold And The Dollar On June 24

It was a tranquil June 24, with equity markets going pretty much nowhere. It is just a continuation of what we saw last week. My hunch is that it will be a quiet week in general, especially ahead of the uncertain G20 summit.

S&P 500 (SPX)

I do continue to believe that next move higher for the S&P 500 is higher.

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S&P 500, spy

Dollar Index (DXY)

So while everyone was paying attention to the Mexican tariffs, I told my subscriber that the most important thing that was happening was the break down of the US/German spreads, and it would result in a plunging dollar.

The dollar continues to weaken, and I expect it shall decline more. We could see the dollar index reach 95.50, over the short-term.

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dollar index

Euro

The Euro could be heading to around 1.15 to the dollar. Or until Draghi comes out with an even more dovish monetary outlook than the Fed.

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euro

Gold

Gold continues to surge and is heading towards $1,430, its next resistance level. It likely fails its first time, as the RSI is suggesting Gold is overbought.

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gold

Oracle (ORCL)

Oracle has been moving higher since reporting results last week. I don’t know why. A reduction in the share count drove most of the earnings beat. Net income and operating income only were up slightly. I think this one will fill the gap to back to 52ish.

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oracle, orcl

Cisco (CSCO)

Cisco has formed a very nice uptrend over the past few weeks. It would indicate to me the stock continues to climb.

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cisco, csco

Intel (INTC)

Intel has a very nice strong triangle pattern that has formed, and that could suggest the stock rise back to $49.

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intel, intc

AMD (AMD)

AMD doesn’t look great, the stock is failing at resistance of $29.40 and may indicate a drop to around $27.25

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amd

Beyond Meat (BYND)

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Disclosure: Michael Kramer and the clients of Mott Capital own CSCO

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when the ...

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