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

Good Morning Today is Friday, January 11

• • S&P 500 futures are pointing to a lower opening of 8 points as of 8:00 AM
  • The US 10-year rate is at 2.71%
  • Dollar Index is at 95.34
  • WTI Crude Oil is $52.92
  • Gold:$1,292
  • VIX: 19.8
  • Critical events for today: CPI – Estimate +1.9 y/y

Recap of International Trading:

• • Hong Kong Hang Seng Index + 0.55%
  • Japan + 0.97%
  • China Shanghai Comp. +0.74%
  • UK FTSE + 0.08%
  • Dax + 0.28%

S&P 500 

Stocks have put together a few strong sessions, and despite some weakness yesterday in retail stocks, such as Macy’s, the broader market performed well. 

Jerome Powell’s talk yesterday was amusing at times, although the market didn’t respond very well at first, but managed to mount a strong come back. 

The S&P 500 continues to face technical resistance at 2,630. 

Netflix

Netflix is trading above $330 today at $333, after UBS upgraded the stock to buy despite lowering its price target to $400 from $410.  If the stock can manage to hold support at $330 then there is a good chance that the stock could work its way higher towards $355. 

­Apple

Apple’s stock has reached out resistance level at $155, and has failed two times at that price. It is obviously not a good sign and if the stock is unable to get above $155 today, then there is a good chance the stock retest the lows around $142.

Acadia (ACAD)

Acadia is now flirting with a break out at $21, and should the stock rise above that price it is likely to go on to $24. The stock has risen sharply over the past few days following the company’s presentation at the JPMorgan Healthcare Conferece.

Tesla (TSLA)

Wedbush is positive on Tesla today ahead of their quarterly results next month. The firm has a $440 price target on the stock. The stock appears to have formed a double bottom techncial reversal off of $300 and the next level of resistance should come around $360.

­Activision (ATVI)

Activision Blizzard is trading lower today following news that Bungie will have the rights to publishing for Destiny. The stock is falling 7% as a result and trading at technical support around $47. Should the stock fall below $47 it is likely heading towards $45.50. 

That is going to be it for today, testing out a few new ideas for the blog. So going to keep shorter over the next few days.

-Mike

Photo From Flickr

Disclaimer: 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.