6 Stocks To Watch For The March 12 Trading Session

US Trading Session

  • S&P 500 Futures : +2
  • US 10-Year: 2.66%
  • Oil: 57.33 +$0.54
  • VIX 14.47
  • Dollar Index: 97.04

International Trading Session:

  • Japan Nikkei: +1.79%
  • China Shanghai: +1.10%
  • Hong Kong HSI: +1.46%
  • Singapore STI: +0.65%
  • South Korea KOSPI: +0.89%
  • Australia ASX: -0.o9%
  • UK FTSE:: +0%
  • German DAX: +0.05%

Global Growth Proxies:

  • Copper: $2.94 +1.45%
  • Silver: $15.43 +1.05%
  • Platinum: $831.60 +1.81%

Key Events:

International Trading Session

Hong Kong

Hong Kong is pushing up against resistance today at 28,980. A rise above that resistance level triggers an increase to the next level of resistance to 29,700. The relative strength index continues to point to the index continuing to rise.

hong kong hsi

Pound

The British pound is moving around a lot today ahead of the next big vote. Just watch the pound if you want to know which way the Brexit vote may go.

pound

US Trading Session

S&P 500 (SPY)

S&P 500 (SPY) will continue in it’s now well define trading range between 2720 and 2820. :-P.

The S&P 500 still needs to break through 2,800 before we can even think about a big move higher over the short-term. Additionally, support, for now, appears to live down around 2,720. Until we see something more concrete, we need to stick with the view that the S&P 500 is range bound.

However, I will tell you that sideways consolidation is better than a 5-7% pullback any day of the week. If the worst thing we get is a sideways consolidation after the big move higher, we should consider ourselves very lucky.

SPy, S&P 500

Boeing (BA)

Boeing is declining just a bit as planes get grounded. I continue to think there may be more downside to Boeing in the coming days, with strong support around $371.

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Disclosure: Michael Kramer and the clients of Mott Capital own Apple, Tesla, Netflix

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's ...

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