Mott Capital Michael Kramer

The Stock Market Continues To Struggle, Despite Rising Prices

The Stock Market Continues To Struggle, Despite Rising Prices

Mott Capital Management, Michael Kramer

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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.



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




Amazon continues to stay firmly beneath $1440.




Facebook continues to stay below $161.50



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


Until This Evening.



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