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

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The Stock Market Continues To Struggle, Despite Rising Prices

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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.

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Micron

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

 

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Amazon

Amazon continues to stay firmly beneath $1440.

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Facebook

Facebook continues to stay below $161.50

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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.

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Until This Evening.

-Mike

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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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