NMS Investment Research

  Apple stock is approaching the $3 trillion mark , at $190.74 a share , as investors begin to recognize potential opportunities for growth in the VisionOS ecosystem. The Apple Vision Pro will be released in the U.S. in Q1 of 2024 and by that time, most bulls are betting on several killer apps for Vision Pro, ranging from virtual online shopping to travel, to emerge. Deepwater's Gene Munster told CNBC, "Eventually 10% of Apple's revenue will come from the Vision Pro". In our view, t his might not include a lower-end version of the original Vision Pro that the company is currently working on , per Bloomberg . This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  The S&P 500 ended its winning streak of fi ve straight week s after the Fed 's Powell told the U.S. Congress on Wednesday that more rate hikes are likely ahead to get inflation down to 2% . The index could move down further to test the 4,300 and 4,279 support levels next week, awaiting t he Friday release of May core PCE, closely watched by the Fed . According to the CME FedWatch Tool, the possibility of a 25-basis point hike at the July FOMC meeting is 71.9%. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  Bitcoin bounced off its 200-day EMA and rallied about 20% since Blackrock announced that they filed an application for their spot Bitcon ETFs. This week, at least two more investment firms, WisdomTree and Invesco, have filed their own Bitcoin ETFs, following Blackrock's move. It's not a sure thing though, as the SEC already rejected such applications twice, in December 2021 and October 2022, per Cointelegraph. The rally could continue if Bitcoin can break the key 30k/30.9k resistance level. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  The SET index is stuck between its 50-day EMA and the trendline resistance of a bearish descending triangle chart pattern as political uncertainties continue. The outlook for the SET remains unchanged as the relative strength (RS) between MSCI Thailand and MSCI EEM (Emerging Markets) is heading lower, under its 50-day EMA. Foreign investors are taking their money out of the Thai financial market, shaken by political uncertainties and headlines like this, "Thai stock market suffers as Stark Corporation defaults", per The Thaiger. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

The S&P 500 was up for the f ifth straight week as the Fed held off a rate hike but says two more are coming later this year, per CNBC. T he l ast time the index was up f ive weeks in a row was in September 20 21 . The index closed at 4,409.56, a key trendline support. Goldman Sachs lifted its year-end S&P 500 price target this week to 4,500 from 4,000, citing the new U.S. soft landing forecast and higher-than-expected earnings, per Yahoo Finance. The bears should take notes that despite both the 10-2Y and 10Y-3M Treasury yield spreads being deeply inverted, t he spread between the 2Y U.S. Treasury yield and its 600-day EMA (another leading indicator for recession) stands at 1.29%, meaning an impending U.S. recession is unlikely. Goldman told CNBC last week that the odds of a recession occurring in the U.S. within 12 months are declining to only a 25% probability. Be aware that it could be highly volatile next week as the Fed blackout period ended on June 15 and Fed ...

  Tesla bulls beware! The relative strength of Tesla stock , or RS, is now approaching a crash level at ~ 93. The stock is stuck under trendline resistances ~ $258, but Tesla bulls have plenty of time to push the stock higher until Tesla reports its earnings late next month. The next trendline resistance is ~ $270. Other good news is that a golden cross may be emerging. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

WTI crude prices took a 4.35% dive to close at $ 67 . 12 a barrel on Monday after Goldman Sachs revised down its WTI crude price forecast for December from $89 a barrel to $81, citing increasing supply and slower demand, per CNBC. WTI crude prices could fall further to retest a trendline support at ~ $6 4.30 a barrel if U.S. and China economic data remains soft.  It remains to be seen whether the one million barrels a day oil production cut by Saudi Arabia, starting in July, will have any impact on crude oil prices at this level. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!