Subscribe to receive this FREE daily commentary directly in your email
Michael Kramer owns XBI March $87 Calls
Michael and the clients of Mott Capital own Apple and NXP
The week of February 18 will be a short week with the stock market closed on Monday. This week will be a showdown between the bulls and bears as several key indexes approach significant levels of resistance which will ultimately decide if stocks continue to advance or decline.
S&P 500 (SPY)
The S&P 500 will be the first major index to watch as it approaches a resistance zone of 2,795 to 2,810. I continue to adjust the region because there is a lot of congestion in that area. It makes the region a potentially challenging zone. But an increase above 2,810 clears a path to 2,872.  The S&P 500 Is Racing To 3,000 and Beyond in 2019
Again, I continue to grow more confident that stocks can rise above this level of resistance.
Russell 2000 (IWM)
The Russell is the second major index that requires watching because if it can manage to rise above 1,593 a path opens to 1,710.
Housing (HGX)
The housing sector (HGX) is approaching a key region of resistance around 295. A rise above that level pushes the index on to 315.
Biotech (XBI)
The biotech sector cleared a critical level of resistance at $85.25, and now there is a path to rise to nearly $90.
Industrials (XLI)
The industrial ETF is breaking out at $75.50 and it could be on its way to $78.
Banks (BKX)
The banks also broke out and are rising towards 103 on the BKX.
Oil
Oil appears to be on is its way to $57.50 and perhaps $61.70.
Copper
Copper is trying to break out at $2.81 and could be on its way to $2.90.
Apple (AAPL)
Apple’s consolidation looks to be nearly complete and may be on the move to $182. So did Buffett buy Apple or sell Apple in the fourth quarter? You better read those filing and see for yourself. 13G/13F which is it?
Square (SQ)
Square is still looking strong and like it can head up to $83.
Roku
Roku continues to defy all logic and continues to climb. That valuation is getting steeper. But the Algo’s see the giant gap up at $56 that needs to filled, and that is where it is likely going.
Blackberry (BB)
Blackberry hit resistance at $8.70, and now it can go on to $8.90, the last test before heading to $9.70.
Micron (MU)
Micron continues to power higher, and $45 is looking more and more likely.
Unlock Deeper Insights with Exclusive Member-Only Video Content on The Market Chronicles YouTube Channel – Just $34.99/Month
Volatility In Focus
Strong JOLTS Report Sends Inflation Expectations Higher
Low Realized Vol Has Trapped The Stock Market
Intel (INTC)
Look at Intel go, next stop $52.50.
NXPI
NXPI is nearing a big break out at$95, with the next stop around $106.
Amazon (AMZN)
Amazon is going the other way, and that means it is likely to continue to fall towards $1520.
Nvidia (NVDA)
I think Nvidia falls towards $139 this week, with a path to $104! Yikes
Chipolte (CMG)
Chipotle has been frozen at $605 and could be on its way back to $560.
Align (ALGN)
Align is another stock filling the gap and is probably going back to $290.
Facebook (FB)
Facebook may be working to fill that gap at 148, but first, it has to fall to $157.
AMD
If AMD can get over $24, then it may rise to $25.70.
Cisco (CSCO)
Cisco looks like it is on a path towards $55.
Have a great President Day!
-Mike
Just $25 Per Month:
Get Two Weeks Free:  To get more great commentaries and updates check out my premium articles on SA Market Place: A Look At Chipotle Options And Charts or Stocks Are Breaking Out With More To Come
Get 25% off your First Month with code RTM1: For more trading style commentaries like the one below with charting check out my premium room on StockTwits.
Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results. Â