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.
Otherwise, enjoy the column!
Subscribe to the Monster Stock Market Commentary and join the 1,645 subscribers getting it for FREE every day!
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA, ACAD, NFLX
Good Morning Today is Tuesday, January 8
- S&P 500 futures are pointing to a higher opening of 16 points as of 8:00 AM
- The US 10-year rate is at 2.70%
- Dollar Index is at 95.81
- WTI Crude Oil is $49.02
- VIX: 20.77
- Critical events for today: German Industrial Production was down -1.9% versus consensus of 0.3%
Recap of International Trading:
- Hong Kong Hang Seng Index up 0.15%
- Japan up 0.82%
- China Shanghai Comp. down 0.26%
- UK FTSE up 0.92%
- Dax up 0.88%
The FTSE 100 is on the verge of a big break out should it rise above 6,893, and it could set up a rally to 7,165.
A similar event is happening in the German DAX.
S&P 500 (SPX, SP500)
There is a definite change in the trend that we also see here in the US and the S&P 500. Again, resistance for the S&P 500 is around 2,630. My outlook for this increase on the S&P 500 is further encouraged by the broader shifts we see in international markets.
Tesla is rising in the pre-market after it was disclosed that Larry Ellison, the founder of Oracle, owns 3 million shares. Resistance continues to stay around $360.
Netflix is continuing to rise this morning and resistance is approaching at $330. The road for Netflix gets hard should it rise above $330.
AMD shares are breaking out rising above $21 and may be heading toward $22.50.
Roku is rising above $43, and that means $48 may be on the way.
Square is trading above $62 and is now breaking out, and it could result in the stock rising to $75.
Verastem has broken its downtrend, and the road to $5 is now in the works.
Should Acadia rise above $18.50, its next level of resistance comes at $21.00.
Twitter is nearing a break out too which could result in the stock rising to around $36.
January 8, Stocks, netflix, twitter, roku, amd, acadia, tesla,