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Can Amazon, Netflix, Apple, Alibaba Continue To Rally Today - Midday Update

Can Amazon, Netflix, Apple, Alibaba Continue To Rally Today

Michael Kramer and the clients of Mott Capital Own ACAD, AAPL, and NFLX

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!

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Mid-Morning Update As of 11:15 AM

Stocks are bouncing to the start the day with the S&P 500 rising about 1.4% to 2,670. The big test for the index will come should it rise above 2,672, which could lead to a rise to 2686: nothing overly exciting, but a step in the right direction.

sp500, spx

NASDAQ

The NASDAQ has cleared a key hurdle at 7026 and could have room to rise to around 7,176.

nasdaq

Russell

The Russell has also cleared 1506 and could be on its way to 1522.

russell

Some positive trends developing in the broader indices, but these trends need to continue and can’t fail late day. So I am suspect until proven otherwise.

Technology

Technology stocks are also nearing a break out should the XLK ETF rise above $65.50.

technology

Amazon

Amazon is setting up for a test of resistance at $1620. The stock broke a short-term downtrend.

amazon, amzn

Netflix

Netflix is also seeing a bounce off of its long-term uptrend and is now breaking a down. A rise over $272 sends it on to $285. I more in-depth commentary in the premium area here: Netflix Stock May Rise 15%

Apple

Apple is trying to rally, but it is struggling. The stock still has to get over $180, for a bullish trend to form. Otherwise, I think it still needs to fall to $164.

apple

Alibaba

Alibaba continues to rally, I think for now $166 is in play and within reach.

baba

Exelixis

Exelixis was in yesterday’s write-up, and the stock continues to try to break out, a big positive for the biotech sector.

exel

Acadia

Acadia is staying above $18.50, and it seems like it can continue to $21.50.

acadia,

Positive all around, but again we need to close at or above many of these levels for trends to form.

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-Mike

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AMAZON, NETFLIX, STOCKS, ALIBABA, APPLE