In today’s briefing:
- SPX Met Blow off Zone
- Tesla’s Still Bloated Inventory Signals June Sales May Disappoint, Along With Q2 Market Estimates
- Mondelez: When Strong Brands Are Properly Managed, Results Follow
SPX Met Blow off Zone
- SPX kissed our 4,250 overshoot zone to unwind our 4,120 long. A case of selling the fact as Euphoria fades and reality sets in.
- RTY remains our top US short and is underperforming the SPX. 1,710 near target with a June bias to crack this pivotal support.
- US 10yr yield met our rally and sell target at 3.80%. Macro take was to sell yield at 3.80% to test pocket support. USD will lag.
Tesla’s Still Bloated Inventory Signals June Sales May Disappoint, Along With Q2 Market Estimates
- Tesla traditionally sells 50-60% of total quarterly sales in the last month—until now.
- Stubbornly high inventory levels signal that trend is at risk—along with ambitious market estimates for Q2
- June deliveries may track lower versus April+May and be down y/y. If so, Q2 deliveries may be little changed or even lower versus Q1 results.
Mondelez: When Strong Brands Are Properly Managed, Results Follow
- Mondelez is one of the best-performing large cap consumer staple businesses, while also being a relatively low risk stock.
- Mondelez remains fairly valued and with that is offering a multiple repricing opportunity, according to a recent investment thesis.
- The company is offering several repricing opportunities for investors.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
