Stock Markets In Asia Are Ripping Higher, Pointing To More Pain For Bears

Markets Point To More Pain For Bears

U.S. Markets

  • S&P 500 Future +7
  • 10-Year 2.68%
  • Oil $53.76
  • VIX 15.34
  • Dollar Index 96.79

International Markets

  • Japan Nikkei +1.34%
  • Hong Kong Hang Seng +1.16%
  • China Shanghai Comp +1.84%
  • South Korea KOSPI +0.50%
  • UK FTSE +0.56%
  • German DAX +0.16%
  • German 10-Year Bund 0.13%
  • Japan 10- Year JGB -0.01%

Global Growth Proxies:

  • Copper $2.76
  • Silver $15.66
  • Platinum $791.30

Critical News:

China’s Pres. Xi to meet US trade delegation on Friday

International Trading

Hong Kong

Asia continued to rally overnight as the global equity rally continues to pick up strong momentum. What appeared to be most encouraging after the Shanghai break out yesterday is that Hong Kong’s Hang Seng broke out in today’s session. The index crossed a strong level of resistance at 28,160 and now is likely heading towards 28,980.

hong kong

Japan

Japan’s Nikkei also cleared resistance at 20,951 and appears to be on a path to rise to around 21,981.

Japan

China

Shanghai appears to be on its way to 2,825.

china

UK

The UK FTSE is attempting to break out and rise above resistance at 7,200.

uk ftse

The only significant breakouts I am waiting on at this point is the KOSPI, which could happen tonight and the German DAX, which is yet to be determined.

U.S. Stocks

VIX

The VIX is on the verge of a mega breakdown and could fall to back to 12. That is extremely bullish for stocks.

vix

S&P 500 (SPX)

The S&P 500 continues to show signs for a rise in the index to 2,795.

S&P 500, spx

Netflix (NFLX)

Netflix is trading above resistance of $360. But the key will be staying above $360 and rising further. Should it stay above $360, it continues to trend higher towards $380.

netflix, nflx

Amazon (AMZN)

Amazon continues to rise, and despite the overall trend remaining lower, the stock does seem to be heading towards $1,680 first.

amazon, amzn

Activision (ATVI)

We noted that giant gap fill in Activision around $40.50. For now, that support is holding. My first thought was that it could fall to $35.

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Disclosure: Michael Kramer and the Clients of Mott Capital own Netflix, Acadia, Tesla

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

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