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Stocks Are About To Break Out and Head Towards Their All-Time Highs

Stocks Are About To Break Out and Head Towards Their All-Time Highs

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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April 5, 2019

Michael Kramer and the clients of Mott own Acadia

US Markets

  • S&P 500 +4
  • US 10-Year Yield 2.54%
  • VIX 13.38
  • Dollar Index 97.27
  • $61.99

International Markets

  • China Shanghai – Closed
  • Hong Kong HSI -0.17%
  • Japan Nikkei +0.38%
  • South Korea Kospi +0.14%
  • German DAX -0.05%
  • UK FTSE +0.16%

Key News

International Trading

KOSPI

The good news is that the South Korea KOSPI continues to rise, and that is likely a positive sign for this exporter’s economy. The index is getting very close to having a pretty big move higher.

KOSPI

S&P 500 (SPY)

The story of the markets over the past two days has been consolidation. It appears that it is going to end today. Stocks are poised to break out once again and rise sharply. The S&P 500 seems to be nearing a pretty big break out, which could propel the index to 2,915. Here is my latest on Investing.com: The S&P 500 Could Rise To 3,200 In 2019 As Global Growth Returns

S&P 500, spy

Russell 2000 (IWM)

The Russell 2000 continues to trend higher with a target of 1,593 coming.

Russell 2000

Semiconductor (SMH)

The SMH semiconductor ETF looks as if it preparing to break out and move higher towards its all-time high of $114.60.

smh

FedEx (FDX)

In yet another sign that perhaps global growth may be on the rise, FedEx shares have broken out rising above critical resistance at $184.50. It could result in stock rising to around $201.

Fedex, fdx

McDonald’s (MCD)

McDonald’s price target increased today to $210 from $195 at Telsey. I still don’t understand this stock. I don’t think I ever will either. I wish all my companies could have the same performance of this stock. It amazes me how revenue can fall so sharply, but the shares continue to rise. Beats me.

mcdonalds, mcd

Intel (INTC)

Intel was downgraded today to market perform from outperform at Wells Fargo. Intel has come along way, and I still think it has further to climb testing the highs of last spring.

intel, intc

Boeing (BA)

Boeing continues to rise, and the stock continues to move higher working to fill the gap up at $420.

boeing, ba

AMD (AMD)

AMD appears to be consolidating around $29.50 resistance and could be getting for another push higher towards $31.50

amd, amd

Acadia (ACAD)

Acadia continues to consolidate at approximately $27, and a break out appears to be coming. We have said now for the past two weeks, but you can see the triangle is contracting. The RSI is still trending nicely higher; there is a giant gap to fill to around $31.50. All the signs are there.

acadia, acad

10-Year

Well to no surprise the 10-year yield is back to around 2.54%.  I’m not sure that it gets through this time around. I think we need to at the very least retest those lows.

10-year yield

Good Luck today.

Mike

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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.