The Stock Market May Bounce Back

The Stock Market May Bounce Back On January 15

Good Morning Today is Tuesday, January 15

  • S&P 500 futures are pointing to a lower opening of 2 points as of 8:00 AM
  • The US 10-year rate is at 2.70%
  • Dollar Index is at 95.83
  • WTI Crude Oil is $51.25
  • Gold:$1,289
  • VIX: 18.61
  • Critical events for today: Brexit Vote, US PPI, Draghi Speech

Recap of International Trading:

  • Hong Kong Hang Seng Index + 2.02%
  • Japan + 0.96%
  • China Shanghai Comp. +1.36%
  • UK FTSE + 0.26%
  • Dax + 0.11%

Hong Kong

Hang Seng continues to look strong rising overnight. The technical chart continues to improve, and rise to 27,350 continues to look likely. The Hang Seng serves as a barometer to global equity market health. It was one the key global index leading the way lower, and it is likely the index that leads the markets higher.

hong kong


Shanghai appears to be putting in a double bottom and has finally cleared a long-term downtrend which has been in place since July. A big positive.

It surely helps that Chinese authorities are signaling more stimulus on the way for the struggling economy.


S&P 500 (SPY, SP500)

S&P futures are pointing to a slightly higher opening. Support on the S&P 500 is at 2,580.Additionally, there is an unfilled gap left from yesterday trading session. That would suggest the index could rise to around 2,595 today.

spx, sp500, S&P 500

Apple (AAPL)

In a turn of events for Apple, a German court has thrown out Qualcomm’s patent suit. Apple, it would seem has gotten a break on many fonts in some time, this is likely a win for the company.

The chart doesn’t look good for Apple with the shares filling the gap up to $155 and have since retreated. Resistance at $155 looks strong, and it seems likely this stock could retest the lows around $142.

apple, aapl

Qualcomm (QCOM)

Qualcomm’s stock has gone nowhere for some time, and it will likely remain that way for some time.What real growth drivers does this company have? Revenue has been in steady decline with no signs of turning higher anytime soon. Shares buybacks are nice, but rarely work to boost stock prices. Just look at the banks.

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

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moments notice when the market ...

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