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 CLIENTS OF MOTT CAPITAL OWN GOOGL, NFLX
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Good Morning Today is November 30
- S&P 500 futures are pointing to a lower opening of 6 points as of 6:00 AM
- The US 10-year rate is at 3.02% – Is nearing a major technical breakdown
- Dollar Index is at 96.90
- WTI Crude Oil is $50.70
- Critical events for today: G20 summit
Recap of International Trading:
Hong Kong Hang Seng Index finished the day up about 20 basis points. No new developments.
China Shanghai Comp. finished the day up 80 basis points.
UK FTSE down 75 basis points.
DAX is down 70 basis points and is nearing a critical support level.
German Bunds are continuing to fall now 31 basis points, and appear to be heading lower.
US Levels To Watch
S&P 500 (SPX, SP500)
The S&P500 is nearing a potential break out today should it rise above 2,750. The next level of technical resistance would come around 2,800.
Biotech (XBI)
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Biotech ETF XBI is near a significant break out should the XBI rise above $81.
Technology (XLK)
Technology XLK will need to rise above $68 to trigger a breakout.
Facebook (FB)
I think the stocks to watch will likely be the FANG’s for a follow-through from yesterday. Facebook perhaps being the most important to see if the stock can find some additional momentum. Facebook needs to rise above $140 to continue to increase.
Amazon (AMZN)
Amazon needs to continue to stay above $1650. If that happens, I think it can work towards $1760.
Netflix (NFLX)
Netflix looks like the strongest of the FANGs at the moment and could be on its way to $300.
Alphabet (GOOGL)
Alphabet is also trending higher and could be on its way to $1130.
Caterpillar (CAT)
Caterpillar is heavily tied to China and is nearing a break out. Should the stock rise above $132.50 it could be on its way to $141.
Banks
Banks stock may also continue to fell pressure today should the yield curve continue to flatten. The trend in the financial ETF (XLF) continues to be low, and the RSI suggests that doesn’t change anytime soon.
Good Luck Today
-Mike
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
sp500, fang, netflix, amazon, alphabet, facebook, caterpillar, banks