Tesla Stands Out, Tech and Markets Bounce

Markets bounced today, with the S&P 500 finishing at 2,440 and the Nasdaq closing at 6,220.

S&P 500 Vs. NASDAQ Composite Over Past 5-days
S&P 500 Vs. NASDAQ Composite Over Past 5-days

^SPX data by YCharts

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Tech Bounce

Materials (XLB), Financials (XLF), and Tech (XLK) all lead the charge higher.

Materials, Financials, Tech over the past 5-days
Materials, Financials, Tech Lead the overall Markets higher

XLF Price data by YCharts

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Tesla the canary in the coal mine?

But it was Tesla (TSLA), that was the standout stock. Perhaps the canary in coal mine for the recent room high in the markets overall.

Tesla vs. the Tech etf xlk over the past 5-days
Tesla Vs. The Tech ETF XLK

XLK Price data by YCharts

Tesla shares are now higher than where they were on Friday and perhaps give a clear signal for just how strong the risk appetite for this market still is.

Tesla chart year to date

TSLA data by YCharts

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Disclaimer

Michael Kramer and the clients of Mott Capital Management, LLC own shares of TSLA.

Michael Kramer is the Founder and Portfolio Manager of Mott Capital Management LLC, 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 recommendation made during the past twelve months. Past performance is not indicative of future performance.