8 Stocks To Watch As Global Markets Race Higher On March 18

US Markets

  • S&P 500 Futures 3.50 Points
  • US 10-Year 2.59%
  • Oil $58.22
  • VIX 13.1
  • Dollar Index 96.45

International Markets

  • China Shanghai +2.47%
  • Hong Kong HSI +1.37%
  • Japan Nikkei +0.62%
  • South Korea KOSPI +0.16%
  • Singapore STI +0.40%
  • UK FTSE +0.63%
  • German DAX -0.20%

Global Markets

Stocks are rising sharply around the globe with China leading the way higher. Perhaps more important is that the UK FTSE is nearing a very significant technical break out. The index is trading right at technical resistance of 7,283. Should the index cross above this level of resistance it could go on to increase an additional 3% to 7,521.

uk ftse

US Trading

S&P 500 (SPY)

The S&P 500 will try to continue to rally today after a big session on Friday which saw the index reach fresh 2019 highs. The next level of resistance comes around 2% higher at  2,872. Meanwhile, should the index pullback the 2,800 region will offer a tremendous amount of support.

https://www.tradingview.com/x/M6jnePxz/

Russell 2000

The Russell 2000 should be watched closely. The index failed two times at 1,562. Support for the index comes around 1,538. But we can see from the chart the longer-term setup shows a giant wedge pattern forming which could signal a much more significant increase is coming, perhaps sending the index to 1,710.

russell,

Housing Sector (HGX)

The housing sector is also nearing a massive breakout and could climb to 295 in the short-term. 

housing sector

Boeing (BA)

Boeing is continuing to decline today down another 3%, on news that prosecutors and the transportation department are investigating how the FAA approved the 737 MAX. The stock is once again falling below crucial support again at $371. It once again increases the risk that the stock continues to decline to around $326.

boeing, ba

Nike (NKE)

Nike’s price target was raised at Telsey to $95 from $92 ahead of its quarterly results later this week.

nike, nke

Facebook (FB)

Facebook continues its decline, nothing has changed here, and I am still waiting for that plunge to $149.

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Disclosure: Michael Kramer and the clients of Mott Capital own Netflix. Michael Kramer owns SPY Calls.

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

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