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Michael Kramer and the clients of Mott Capital own Apple, Tesla, and Netflix
March 1, 2019
U.S. Trading
- S&P 500 +16.7 points
- 10-Year Treasury 2.73%
- Oil $57.33 +0.19%
- VIX 14.43
International Trading
- Japan Nikkei +1.02%
- China Shanghai +1.80%
- Hong Kong HSI +0.63%
- Singapore STI +0.24%
- South Korea Kospi Closed
- Australia ASX +0.38%
- German DAX +1.03%
- UK FTSE +0.44%
Global Growth Proxies
- Copper$2.96 +0.32%
- Silver $15.75 -0.38%
- Platinum $868.10 -0.81%
Key Events:
- US PMI Manufacturing Index: Prior level 54.9
- German PMI Manufacturing Index: 47.6 vs. 49.7 last month
- German Retail Sales +3.3% vs. estimates of 2.0%
- China PMI Manufacturing Index: 49.9 vs. 48.3 lastÂ
International Trading
The German DAX is breaking out and is rising above key resistance at 11,535. The next level to watch in the index is 11,891. The DAX was one of the last indexes to break out, yet another positive sign. I will update global markets over the weekend.
US Trading
If you haven’t read the Chicago PMI release from yesterday, I urge you to read it. Here is a snippet:
I don’t know, does that sounds like we are heading to a recession anytime soon? Not to me, but we will get further confirmation when we see today’s readings.
S&P 500 (SPY)
As noted last night, the S&P 500 is gearing up for a breakout today, and that is precisely what the futures are pointing to now. The SPY ETF is suggesting a rise over 2,800 on the S&P 500, and that means that resistance at 2,812 may come into play today.
A break out above 2,812 sends the index on to 2,872.
Tesla (TSLA)
Tesla is sinking today after the big 5 PM announcement of the base model 3, and prospects for a loss in the first quarter. I don’t think much really changed here. The stock is trading lower to around $304. But the good news is that at this point there is a sign of a new uptrend forming. While the stock is failing at the downtrend on the first attempt, I do expect that downtrend to be broken at some point over the next week or so.
Apple (AAPL)
Apple continues to advance, and it continues to work its way higher towards $182.
Netflix (NFLX)
Netflix is pointing to a slight increase today, and as long as the stock can stay above $355, there is hope that the stock can continue to climb. But like I said last night a drop below $355 spells trouble for this stock. So we need to watch this one closely.
Amazon (AMZN)
Amazon is now starting to rise, and perhaps we finally begin to see that push towards $1780 I had thought at the beginning of the week. That isn’t going to happen today though.
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[youtube-feed feed=7]Square (SQ)
The big question for Square now is what is next now that the stock has reached $83. A rise above $83 can send the stock to $91. But the stock is getting overbought, so I think there is a really good chance we just see the stock trade sideways and consolidate a bit.
Alibaba (BABA)
Alibaba has cleared some key resistance at $180, and it does set up the chance for the stock to rise towards $201.
PayPal (PYPL)
PayPal continues to go higher and appears to be heading towards $101.
That’s it!
-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. March 1
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.