Stocks Are Surging on February 5 As The Bulls Run Once Again
Stocks are rising on Wednesday, February 5 as the bulls ride once again and challenge the all-time highs.

Stocks Are Surging on February 5 As The Bulls Run Once Again

by Michael Kramer
FEBRUARY 5, 2020

STOCKS: NFLX, DIS, MU, INTC, AMZN

MACRO: SPY, OIL

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX AND DIS

ADP Job Report, and ISM Non-Manufacturing data later this morning.

S&P 500 (SPY) 

Stocks are adding to their gains on February 5, with the S&P 500 Futures rising by another 80 basis points to 3,325. The big news here is that the S&P 500 has successfully taken out some key levels of resistance along the way. The next significant level of resistance doesn’t come until the all-time highs at 3,336.

S&P 500, spy

The rally isn’t just taking place in the US, but once again around the globe, with markets up in Europe and Asia.

Oil 
Even oil is very close to a significant reversal here, potentially sending it back to $54.

oil

Micron (MU) 

Micron is rising once again, and the next level for the stock appears to be at $58.66.

micron, my

Intel (INTC)

Intel is rising today and continues to bounce after filling the post-earnings gap. Remember, we have seen some bullish betting in this stock in recent days, with the next level of resistance around a price of $69.

intel, intc

Amazon (AMZN) 

Amazon is trying to get over resistance at $2,060; if it can manage to hold above these levels this morning, the next level to look for comes around 2,134.

Amazon, amzn

Disney (DIS)

Disney is rising some but not much, despite strong quarterly results and impressive subscriber numbers for Disney+. The next region of resistance appears to be in the $147 to $148 area.

Disney, dis

Netflix (NFLX)

Meanwhile, Netflix continues to push higher, and we saw some more bullish betting in the stock yesterday, with the potential for the shares to push higher towards $385. Premium content – Netflix Is Approaching A Major Breakout

netflix, nflx

Have a good

-Mike

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.