Home » The Long Awaited Stock Market Break Out Has Finally Arrived

The Long Awaited Stock Market Break Out Has Finally Arrived
The stock market is breaking out on August 30, with the S&P 500 taking out what has been a massive level of technical resistance at 2935.

The Long Awaited Stock Market Break Out Has Finally Arrived

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.

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August 30 – Stocks SPY, TLT, TSLA, NFLX, AAPL, MSFT, GE

Michael Kramer and the clients of Mott Capital own TSLA, NFLX, AAPL, and MSFT

US Markets

  • S&P 500 Futures +19 Points
  • VIX 17.30
  • US 10-Year 1.53%
  • Oil $55.89
  • Dollar Index 98.56

International Markets

  • HSI +0.08%
  • Nikkei +1.19%
  • Shanghai -0.16%
  • KOSPI +1.78%
  • FTSE +0.72%
  • DAX +1.19%

S&P 500 (SPY)

Stocks are on the rise today with the S&P 500 pointing to a higher opening. The Futures are showing that S&P will rise above our infamous level of resistance at 2,935. As I talked about in yesterday’s video segment, it should now become a powerful level of support in the future.  Here’s Why The Long-Awaited Break Out May Finally Happen

S&P 500, spy

It means that the next level of resistance comes at 2955 and then again at 2975.

S&P 500, spx

VIX (VIX)

At least at the moment, the market has everything working its favor, with the VIX now dipping below 17.5.

vix

US 10 Year

Plus we have the US10Y nearing an increase above 1.54%.

us10y

Tesla (TSLA)

Tesla is breaking out this morning on the news its cars will be exempt from the China auto tax. The stock is breaking out of its falling wedge, and above resistance at $225. It means the stock now has a path higher towards $250.

tesla, tsla

Netflix (NFLX)

Netflix will try to break out today and rise above $300. I think it sets up that move to $320 we have been waiting for.

netflix, nflx

GE (GE)

GE is rising this morning, but resistance is around $8.25. I think it fails there and begins its declines to $7.60.GE’s Declines May Only Be Starting

ge

Apple (AAPL)

Apple is breaking out today rising over $210, and now shares could be on their way to $217

Apple, aapl The stock market is breaking out on August 30, with the S&P 500 taking out what has been a massive level of technical resistance at 2935.

Microsoft (MSFT)

Microsoft is also taking out the downtrend and will challenge resistance at $141.

microsoft, msft The stock market is breaking out on August 30, with the S&P 500 taking out what has been a massive level of technical resistance at 2935.

Have a great Friday, and see you over the weekend

-Mike

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