Stocks are rising around the globe on February 12 as the bull market hits its full stride.

Stocks Are Rising Around The World On February 12

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.

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FEBRUARY 12, 2020





In 1 More Day

Michael will be hosting a live streaming event for members of Reading The Markets for Seeking Alpha and StockTwits on February 13 at 9 PM ET. It will focus on how he uses fundamentals, technicals, and options market analysis to find stocks on the move. As well as taking questions from members!

He will be reviewing mostly the basics of Technical Analysis and Option Trading

Germany (EWG)

Stocks are rising on February 12 around the globe once again, with all the significant markets across Asia and Europe higher. The German DAX reached an all-time high today rising above its 2018 highs.

Germany dax

S&P 500 (SPY)

The S&P 500 futures are rising today by more than 10.75 points back to yesterday’s highs before the afternoon gap-fill party. Again, nothing has changed from a technical standpoint, and my expectations are for the S&P 500 to continue to push higher towards 3,400.

S&P 500, spy


Oil prices are rising as the risk appetite among investors slowly returns, as the commodity comes out of that falling wedge pattern, and a bullish divergence begins to form on the RSI, and the potential to rise to around $52, and then $54.


Amazon (AMZN)

So I took a long hard look at Amazon and used a log chart for it, which is the better way of finding patterns and trends over the longer-term. When looking closely, we can see that Amazon has broken free of an ascending triangle pattern. Based on that pattern and projection, it seems possible that Amazon’s next stop could be around 3,100.

amazon, amzn

Micron (MU)

Micron is rising today after UBS upgraded the stock to Buy from Neutral with a $75 price target up from $47. The stock’s next likely stop appears to be $61.50.

micron, mu

Alibaba (BABA)

Alibaba is creeping higher today and is nearing a resistance level at $220, with a break above that price, I think the stock heads back to ATHs.

Baba, alibaba

Nvidia (NVDA)

Nvidia continues to rocket higher today and is cruising through resistance at $268, setting up that push to its ATHs around $295.

nvidia, nvda

Visa (V)

Visa’s price target was raised today at OPCO to $220 from $210. I think the stock is rising out of that pennant pattern and is now on its way to $220.

Visa, v

Have a great day


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