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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STOCKS – ACAD, GILD, ILMN, JD, FCX
MACRO – SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN ACAD
- S&P 500 Futures +4.25 points
- US 10-Year 1.75%
- VIX 11.57
- Oil 58.46
- Dollar Index 98.33
- Japan +0.28%
- SK +0.31%
- China -0.13%
- HK +0.15%
- Germany +0.28%
- UK +0.50%
S&P 500 Futures
Markets are pointing to a higher opening once again. The S&P 500 futures hit 3,150 this morning, and appear to have some room to continue to advance to roughly 3,160. Premium content – The Message Is Loud And Clear, The Market Wants To Go Higher
The cash market has some further room to climb to around 3,153.
Freeport continues its climb, and as right now, $12.05 appears to be the next level of resistance.
Illumina continues to power high and has risen above resistance at $316. The stock now appears to be working to fill the gap up to $360.
Gilead also appears to be breaking out, rising above resistance at $67, and may now be working its way higher towards $72.
JD.com is finding support at $31.50 and now is likely to retest resistance at $34.80.
Acadia continues to hold the rising triangle, and that is a bullish sign that the stock is likely heading higher towards $52.
Have a great day
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.