Stocks Are Set To Break Out Pushing The S&P 500 Towards 2,900

Stocks Are Set To Break Out Pushing The S&P 500 Towards 2,900

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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March 15, 2019

Michael Kramer and the clients of Mott Capital own shares of Apple

US Markets

  • S&P 500 Futures +11
  • 10-Year Yield 2.62%
  • VIX 13.05
  • Oil $58.54
  • Dollar Index 96.64

International Markets

  • Japan Nikkei +0.77%
  • China Shanghai +1.04%
  • South Korea KOSPI +0.95%
  • Hong Kong HSI +0.56%
  • German DAX +0.89%
  • UK FTSE +0.62%

Global Growth Proxies

  • Copper $2.91
  • Silver $15.38

US Trading

S&P 500 Futures

The good news is that the S&P 500 Futures are breaking out this morning rising above resistance at 2,818. It paves the way for the S&P 500 futures rise towards 2,900.

S&P 500 futures

S&P 500 (SPY)

The S&P 500 is also pointing to a break out this morning. It too paves the way for the S&P 500 rise to 2,900.

S&P 500, spy

Broadcom (AVGO)

Broadcom is rising this morning after reporting results last night. The company is nearing a potentially big break out as it approaches its all-time highs. A rise above $285 would trigger that break out.  The chart shows a bullish flag formation, a continuation pattern, a positive signal for the stock.

avgo, broadcom

Oracle (ORCL)

Oracle reported results, and unlike Broadcom, shares are falling, following many downgrades. The stock is dropping below crucial support today and could be heading back towards $49.

oracle, orcl

Amazon (AMZN)

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As of now, Amazon may finally be breaking out. The stock is crossing that long-term downtrend today, at roughly $1,700. Should that break out hold, the only thing standing in the way of Amazon and it’s all-time highs is a level of resistance at roughly $1,770.

amazon, amzn

Apple (AAPL)

Apple is pointing to a higher opening, and a push to $195 is now on the table.

apple, aapl

Ulta (ULTA)

Ulta is breaking out this morning rising above some key resistance at $315. I had thought a triple top was forming and shares could pull back towards $250. That is not the case and it was the wrong assessment.



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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.