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Biotech, Technology, And NASDAQ 100 All Breakout – S&P 500 Back To 2,880?


Biotech, Technology, And NASDAQ 100 All Breakout – S&P 500 Back To 2,880?

Stocks were in rally mode again after a better than expected job report boosted the S&P 500 by about 1.5 percent. Any hesitation I have had over the past couple of day seems to indicate that the market, technology, and biotech stocks have now broken out, and that means they may have more upside potential from here.

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S&P 500 A Rise Back To 2,880

The S&P 500 is approaching the upper bound of the 2016 lows/Brexit trend line. When the index crossed over the trend back in late December, it resulted in the index surging all the way to 2,880. I think the same thing might happen again this time, as the fundamentals of the economy, the job market, and earnings continue to look very strong.

S&P 500


Biotech Stocks

The NASDAQ biotech ETF cleared two extremely critical levels over the past two days,  resistance at $111.50, and then again today $113.70. That could be a sign the ETF is set to rise all the way back to $119.25.

biotech

We see a similar confirmation in the iShares Biotech ETF (XBI) as well, with the potential for to rise to roughly $98.

One can see well the winners outweigh the losers, with only 2 of the top 25 stocks down.

biotech


Technology Stocks

Technology names broke out as well with the shares Technology ETF (XLK) soaring as well, quickly clearing the resistance level at $69.25.

technology

In fact, like the biotech stocks, the distribution of the technology sector is heavily favored to the winners, with only three stocks lower on the day.  technology

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Microsoft

Microsoft has cleared resistance at $95.70 and has made a new all-time high.

microsoft

Netflix

Netflix shares have broken out from its two day period of consolidation.

netflix

Nvidia

Nvidia shares have also broken above its downward trend as well. My guess is thing can run towards $260.

nvidia

Alphabet

Alphabet shares appear to be playing fill the gap and could make a run towards $1200

alphabet

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Nasdaq 100

Finally, the Nasdaq 100, has broken out.

nasdaq 100

That is it for a Friday.

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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.

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Tags: #sp500 #incyte #nektar #bitoech #technology #stocks #alkermes #costco #instacart #anlylam #nektar #incyte #nvidia 

 

 

 

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Biotech and Technology Stocks To Watch Amid A Sector Breakout And More


Biotech and Technology Stocks To Watch Amid A Sector Breakout And More

The stock market has felt like it has gone nowhere, and seems to have lost its sense of direction. It feels as though a tweet can send the market reeling lower, or soaring higher. But with all the ups and down, the S&P 500 stands today at the same place it stood on February 16, around 2,735 give or take a few points on either side. It has certainly felt more exhausting.

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Biotech Stocks

The biotech’s today performed better than I had anticipated, with the NASDAQ Biotech ETF ($IBB) closing at $112.62. The chart shows a hint of testing support at $111.50 on two occasions during the day, and it held. A positive for sure, and it makes today’s price action look more like a breakout now.

When looking at the breakdown of the ETF, the buying was well-distributed among the group. Nektar led the group higher; it figures Nektar would, I wrote an article the other day, saying it was due for a pullback.

biotech


Nektar

Nektar has all the signs of a stock looking like it was set to pullback, an RSI trending lower, while the stock is reaching new highs and waning volume. But to this point, the market has decided to prove me wrong.

nektar


Alnylam

Alnylam, despite rising today, still looks weak on the charts. The stock is trending lower, along with the RSI trending lower.

anlyam

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Incyte

Incyte looks like one that is on the verge of breaking out and should it rise above $93; it would signal a breakout, giving the stock the potential to increase to $102.

incyte


Alkermes

I have owned Alkermes for years, and suddenly the stock is starting to show signs of life, with a bit more volatility. I’m not sure how much of Alkermes’ rise has to do with the connection the market has given it to Nektar, because of their immuno-oncology drug candidates,  or if it has to do with the government focus on the opioid crisis. Alkermes makes Vivitrol, an injectable 30-day drug for opiate addiction. Vivitrol has a tiny market share that has been steadily growing. But Alkermes also has a lot on its plate in 2018 from its pipeline, with its depression candidate ‘5461 and a pending FDA approval. Head to head trial result on what was ALKS ‘8700 vs. Tecfidera in MS. ALKS ‘8700 was recently renamed after Alkermes signed a licensing deal with Biogen. Plus data on ALKS ‘3831 a drug for schizophrenia. With all these catalysts its is hard to decide what is driving price now, but my gut says the connection is with Nektar still.

alkmeres

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Technology

The Technology ETF ($XLK) closed at $69.25, and it is nearing a breakout as well, which would be nice, even though I recently wrote a piece warning of a potential double top formation. It is nice being wrong twice for sure, but hey I’m not perfect either.

technology

Activision

Activision continues to climb, and there has been very little that has seemed to slow the stock down since the start of the new year. In this case, it looks as though the trend is your friend.

activision


Nvidia

A name we haven’t mentioned in a while Nvidia has stalled since its quarterly results, which is surprising. But the chart has this negative look to it with that downtrend that has formed in recent weeks. It may be worth watching Nvidia, and seeing how it continues to trend before making a call on it.

nvidia

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Costco

Did you notice Costco’s results? The part I’m most interested in is the e-commerce growth. I have personally never liked shopping in Costco, especially where I live in Long Island, it is crazy in the store, and the parking lots is a disaster, with people fighting over spots. But I have started using their e-commerce product a bit. Now with Costco groceries through Instacart, I have become a big fan of Costco, because I can all the good deals without having to step foot in the store.

In the quarter Costco reported e-commerce sales of about $1.5 billion, which isn’t much, I know, but it was still 4.8 percent of total revenue, which came to $32.998 billion. The Instacart part of the business is new, so I would love to see what the growth is next quarter in this part of the company.

By the way, this was the Costco where I live at checkout on a Sunday morning at 11 am, back in December.

costco

Instacart

By the way, Instacart isn’t a public company, but if you go to the website Instacart.com, you can see what stores are associated with Instacart in your neighborhood, I like the service a lot. A personal shopper goes to the store to pick up your items that your order online, and through the app, you can chat with them, and they will send you pictures of the items, or let you know if the store is out of an item, and the replacement options. Very cool.

Ok, that is all, until tomorrow.

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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.

© 2018 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #sp500 #incyte #nektar #bitoech #technology #stocks #alkermes #costco #instacart #anlylam #nektar #incyte #nvidia 

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Disney, Costco, Sage, and Nvidia-Plus The Monster Week In Review

Disney, Costco, Sage, and Nvidia-Plus The Monster Week In Review

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This past week saw the S&P 500 continue to rally and reach new record highs, with the index up by nearly 1 percent. Technology led the charge higher with the Technology ETF ($XLK) up by about 1.5 percent, while the interest rate sensitive Utilities fell by 1.5 percent.

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^SPX Chart

^SPX data by YCharts

The S&P 500 was led higher by shares of AT&T ($T), which surged by over 4 percent for the week, while Microsoft ($MSFT) and Apple ($AAPL) put in a solid performance finishing higher 3.2 percent, and 2.72 percent, respectively.

AAPL Price Chart

AAPL Price data by YCharts

Of the top 12 companies in Technology ETF, AT&T ($T) performed the best followed by Microsoft ($MSFT), and Verizon ($VZ) up just over 3 percent.  Meanwhile, Oracle ($ORCL) shares sank over 2.6 percent after the company gave weak guidance for its cloud business, while Nvidia ($NVDA) was the second worse performing name for the week, finishing flat.

AAPL Price Chart

AAPL Price data by YCharts

It would seem for the most part the market is beginning to re-rotate, after previous weeks saw a significant movement into shares of Banks, Industrials, and out of Technology. It would seem for the most part money is now moving back into Technology.

There is a good reason for this re-rotation. Despite Banks, Industrials and Consumer Discretionaries being the clear corporate tax cut beneficiaries, technology stocks are still the growth engine of the economy. Technology stocks over the longer-term will be the companies that deliver consistent year-over-year growth as a group. While the banks, industrials, and discretionaries will likely only get a one time benefit and then return to their longer-term growth rates.

Biotech

Shifting gears, Biotechs have still not been able to clear the $107 hurdle on the IBB, and the group will not be able to mount a move higher until that happens.

biotech

Sage

Sage Therapeutics ($SAGE) has recently been thrust into the top 25 holding in the IBB ETF after two rounds of exciting data. Over the past three months shares of the stock have risen by nearly 160 percent. The company has two exciting drugs in development, one for post-partum depression, and another for Major Depressive Disorder. The impressive part for the two drugs is the speed in which the drug bring relief to patients. The market for Depression is quite larger, around 15 million people per year in just the US. I have followed Sage for some time, and it is exciting to see them finally see success. My only wish is that I bought shares of the stock instead of only following. But that opportunity may come, the market always gives opportunities.

sage

Nvidia

Nvidia shares have trade horribly of late, and the once high fly stock has failed to show any meaningful bounce. The one specific area I have noticed in Nvidia is the potential for a double bottom being put into place around $185. It is worth noting the stock has failed to rally above $193.50 on several occasions, but if Nvidia is to rally into year-end, it would seem shares are set up to do so presently.  If the double bottom does not materialize it is a bad sign for the stock.

nvidia

Costco

Costco ($COST) saw a big rally at the end of the week, after reporting better than expected results. It is worth noting that shares of the wholesale club retailer may have gotten slightly ahead of themselves. The chart below shows the long-term trading channel for the stock and shares have now risen above it. It could be a sign that the stock may have a short-term pullback in store.

COSTCO

Disney

Disney had the biggest news of the week announcing it will acquire assets from FOX for over $50 billion, bringing, even more, content to Disney’s already massive library, while merging two of the most prominent movie studios. With a controlling interest in Hulu, Disney will be able to rival Netflix in streaming content. Disney shares look primed to break out of a multiple-year symmetrical triangle, which could see the stock rally to all-time highs in the not to distance future.

Disney

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Michael Kramer and the Clients of Mott Capital own shares of  $DIS $NFLX $GOOGL $VZ

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.

© 2017 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #technology #biotech #nvidia #sage #costco #disney #sp500