This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
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Michael Kramer and the clients of Mott Capital own Microsoft, Cisco, and Visa
Michael Kramer own SPY
April 2, 2019
- S&P 500 -2 points
- US 10-Year 2.47%
- Oil $62.08
- Dollar Index 97.37
- VIX 13.50
- China Shanghai +0.20%
- Hong HSI +0.21%
- Japan Nikkei -0.02%
- South Korea KOSPI +0.41%
- German DAX +0.16%
- UK FTSE +0.64%
Global Growth Proxies
- Copper $2.913
- Silver $15.02
- Platinum $854.70
S&P 500 (SPY)
The news appears to be fairly quiet today with limited economic data. It will give the S&P 500 a good chance to continue where it left off on Monday. There isn’t much standing in the way of the S&P 500 rising further, as earnings season quickly approaches. The big test for the S&P 500 continues to be around this 2,870 region after that it would seem that all-times highs are around the corner.
The technology sector has already broken out and is now its way to testing its all-time high. The XLK is heading towards resistance at $76.26, after that it all-time high territory.
Microsoft is already trading at an all-time around $119. The stock appears to be breaking out again from a bullish pennant, and that likely means a move higher to around $127.
Visa is another big reason the technology sector is moving higher. The stock is now the third largest part in the XLK, after the significant changes last fall. The stock is also breaking out and appears to be heading towards $165.
Cisco is approaching a massive level of resistance at $55. Should the stock rise above this resistance region the next stop may be as high as $70.
Intel looks as if it is heading back to its highs of the past two years at roughly $57.
Boeing is moving higher the last few days, and the gap fill towards $425 appears to be in the works.
There is a good chance we get Tesla’s delivery data today before the open. The moment of truth is coming at roughly $295.
Square will need to break out here at $76 otherwise the setup maybe turning negative.
Believe or not Bitcoin is breaking out today and could be on its way back to $6,500. Great. Now we can hear about this ad nauseam. Nvidia and AMD may benefit in sentiment only, neither company sees meaningful revenue from this anymore.
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. bitcoin