A daily stock market commentary using fundamental, technical, and options market analysis, with some common sense, to challenge the mainstream

The Stock Market Continues To Struggle, Despite Rising Prices

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!

Subscribe to the Monster Stock Market Commentary and join the 2,568 subscribers getting it for FREE every day!

[widget id=”text-23″]

The Stock Market Continues To Struggle, Despite Rising Prices

[widget id=”text-16″]

The stock market is in rally mode once again, with the S&p 500 up about 1.4 percent. But today’s story is not all that different than yesterday’s unfortunately. The S&P 500 also failed at resistance again, this time around 2,660. The trend line has been in place since late January when the S&P 500 peaked. A break above 2,660 is bullish with the next level to watch for being at 2,690. This afternoon will be important should the breakout occur.

spx

[widget id=”text-22″]

Micron

Micron continues to fail at resistance at $49.75. The sellers won’t it lift to this point.

 

mu

[widget id=”text-27″]

Amazon

Amazon continues to stay firmly beneath $1440.

amazon

[widget id=”wordads_sidebar_widget-41″]

Facebook

Facebook continues to stay below $161.50

facebook

[widget id=”text-22″]

Technology

But there is a glimmer of hope because the XLK remains above $64.75, and the longer-term uptrend, and maybe what ultimately matters.

technology

Until This Evening.

-Mike

[widget id=”text-19″]

[widget id=”wordads_sidebar_widget-41″]

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.