Home » Stocks Stall Out On April 2, But Don’t Expect It To Last

Stocks Stall Out On April 2, But Don't Expect It To Last

Stocks Stall Out On April 2, But Don’t Expect It To Last

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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Michael Kramer and the clients of Mott Capital own Apple

Michael Kramer owns SPY Calls

S&P 500 (SPY)

The S&P 500 held on to yesterday’s gains finishing the day flat. Pretty good scenario if you ask me. At this point it keeps momentum rising, and 2,872 as the next significant level of resistance to get over.

S&P 500, spx

The RSI is suggesting there is still plenty more room for the index to continue to rise. We could get some data tomorrow that fuels that increase in the ADP private payroll number. We shall have to wait and see what the overnight session bring us.

S&P 500, spy

Housing (HGX)

The housing index did break out and I think it is getting ready to move higher towards 315. That is a good sign for the broader market as well.

S&P 500, spx

Apple (AAPL)

Apple is slowly rising and once again testing resistance at $195. It could be about to break out and could push the stock towards $209.

apple, aapl

Facebook (FB)

I was focused on Facebook today because the stock has flirted with this level for months and failed every time. I am using $175 to confirm a breakout. I have no confidence that this stock will continue higher. Should the break out be confirmed, then a push to $186 seems like the next likely stop. Facebook Reaches Its Moment Of Truth – Premium Content

facebook, fb

Nvidia (NVDA)

Nvidia is on the cusp of breaking out too. Should it get over $185.50, we can confirm the breakout and a push back to $200.

nvidia,

Goldman (GS)

Goldman is quickly approaching resistance at $200. That has been a wall for the stock since January. If the stock can break out, it has room to climb to $215. I’m just not sure that it can.

goldman, gs

Morgan Stanley (MS)

Morgan Stanley is also near resistance at $44.10, and a break out can see the stock rise towards $46.40.

morgan stanley, ms

-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.