Here's Why The Stock Market May Jump on March 29

Here’s Why The Stock Market May Jump on March 29

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Michael Kramer and the clients of Mott Capital own Tesla and Netflix

Michael Kramer owns SPY Calls

S&P 500 (SPY)

Stocks continue to churn but have this underlying bid that seems too hard to ignore. Again the sellers came in force by mid-morning pushing the S&P 500 lower to around 2,798. But still, the buyers stepped in defended the support level and managed to push higher. Now the S&P 500 appears to be gearing up for a big break out tomorrow, and perhaps finally pushing the index towards filling the gap at 2,850.

S&P 500, spy

Russell 2000

The Russell 2000 is also suggesting a break out is on the way as it approaches a technical resistance level at 1,535. A break out sends the stock even higher towards 1,562.

russell

Housing Index

The housing index is also nearing a big break out should it rise above 296. It may result in a move to around 315. Please don’t forget out important this index is as a gauge for the general direction of the broader market.

housing,

Netflix (NFLX)

Netflix has been trying to break out but has been stuck below $355.  If the stock can ever get over $355, it has room to move back to $378.

netflix, nflx

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Tesla (TSLA)

Tesla continues to move higher off its recent lows. I continue to think the stock can move back towards $298.50. By the way, the Bloomberg Model 3 tracker is not suggesting that the company is making over 6,000 of them a week.  Don’t forget we get delivery numbers by  March 3.

tesla, tsla

That’s it. It turns out I have more than a cold, but a case of Bronchitis. No commentary tomorrow, back sometime this weekend.

-Mike

Photo from Flickr

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.

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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.