The Index That May Be Signalling A Big Rally Is On The Way

US Markets

  • S&P 500 -13.25
  • 1o-Year 2.48%
  • VIX 16.42
  • Dollar Index 97.49
  • Oil 61.81

International Markets

  • Shanghai Composite +0.69%
  • Hong HSI +0.52%
  • Japan Nikkei +1.52%
  • South Korea Kospi +0.88%
  • Germany DAX -0.43%
  • UK FTSE -0.85%

International Trading

Stocks in China stabilized overnight with the Shanghai Composite holding some critical levels of support around 2,920. With a gap to fill there is a good chance, the index can rebound further in the coming days back to around to 3,065.

china, shanghai

US Trading

S&P 500 (SPY)

The S&P 500 is pointing to a decline to the start the day. But the index has a lot of positive momentum coming out of yesterday’s rally. At this point, resistance comes around 2,940, while support is about 2,915.

S&P 500, spy

Housing Index (HGX)

The housing sector HGX is nearing a pretty big break out should it rise above $316 it would send the index towards $326. The index has been essential to track in recent months, leading stocks down and then up. A break out would be a very bullish sign for the broader market. I can’t emphasize this enough, this is a much watch leading indicator.

housing, hgx

Apple (AAPL)

Apple is trading slightly lower this morning, but we can see that the uptrend is still in strong, and as long as that holds the stock is likely to continue to trend higher, with the trend towards $217.

apple, aapl

Netflix (NFLX)

Netflix will try to resume its uptrend and its push towards $400. The stock has been very impressive in recent days holding support around $378. Netflix May Be Breaking Out

netflix, nflx

Intel (INTC)

Intel fell apart after results, and to this point, $50.50 appears to be support for the shares. The stock may see a minor rebound to around $52.50.

intel, intc

Nvidia (NVDA)

I’m growing more concerned over Nvidia. The chart doesn’t look good, and the RSI is breaking down.  I had thought the stock was heading back to around $198, but it seems that may not happen now, with the chances for the stock decline to about $150 rising.

1 2
View single page >> |

Disclosure: Michael Kramer and the client of Mott Capital own Apple, Netflix

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

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.