US Markets

• S&P 500 Futures +2.5 points
• US 10-Year 1.76%
• Dollar Index 97.50
• VIX 13.86
• Oil $55.58

International Markets

• Japan +0.55%
• KOSPI +0.24%
• Shanghai -0.02%
• HSI +0.87%
• DAX +0.47%
• UK +0.79%

MACRO

The ECB is meeting today, Draghi’s final showing. The ECB is not expected to make any changes.

Germany (EWG)

The German DAX index is challenging resistance today, around 12,860. A rise above the resistance could send the index back to an all-time high. Interesting to note for a country teetering on recession. This morning Flash PMI came in at 48.6 versus estimates of 48.7.

S&P 500 (SPY)

The S&P 500 futures are pointing to a higher opening, but still, none of that matters as long as resistance remains at 3,014. That is the only level that is standing in the way of the index and a new record high.  Again, I continue to believe that this market is moving higher, and the more work I do, the convinced I grow that the market is heading higher to new all-time highs. 

STOCKS

Tesla (TSLA)

Tesla is rising today and trading around resistance at $300. Watch for this region to act as support/resistance as the bulls and bears battle this out. Although it would seem the bears are not having a good day.

Microsoft (MSFT)

Microsoft is also rising this morning after reporting better than expected results and some positive commentary out of the sell-side. Still, the stock needs to get through $142 before we can think about anything higher. However, I do believe the stock will continue to rise and push through that resistance zone.

Micron (MU)

Micron continues its trend higher, and it appears as if the stock is getting ready to make a move towards $48.75.

Intel (INTC)

Intel will report results today, and I still think the stock is likely to push towards $56.

Netflix (NFLX)

Netflix continues to hold support around the $270 price while holding the uptrend. Again, I continue to believe the stock is heading higher back to $285 and likely higher.

Have a good one!