Can Stocks Continue To Rally For The March 13 Trading Session

US Markets

  • S&P 500 Futures +2.25
  • US 10-Year Yield +2.62%
  • Oil $57.47 +$.0.60
  • VIX 13.62
  • Dollar Index 96.89

International Markets

  • Japan Nikkei -0.99%
  • China Shanghai -1.09%
  • Hong Kong HSI -0.39%
  • Singapore STI -0.52%
  • South Korea KOSPI -0.41%
  • Australia ASX -0.22%
  • UK FTSE -0.05%
  • German DAX -0.10%

Global Growth Proxies

  • Copper $2.9365
  • Silver $15.53
  • Platinum $845.10

International Trading Session

Asian markets were all sharply lower overnight despite a better day in the US.

South Korea

The South Korea Kospi despite falling some managed to finish off its lows and continues to hold support around 2,135. This may be a potential development, and if the index can bounce it would be a positive sign for global markets.



Despite all the uncertainty surrounding the future of Brexit, the UK FTSE has actually held up reasonably well. The index has been range-bound between 7,120 and 7,200 for the last few weeks.  I think at the very least it would suggest that the markets at this point may have adequately priced in all Brexit risks.


US Trading Session

S&P 500 (SPY)

The S&P 500 continues to trade in a range. 2,800 to 2815 continues to be the significant level of technical resistance. Until we see something change surrounding this resistance level, it is best to say that the index is range bound. At this point, I just don’t see any signs that change that view in the short-term.

spx, sp500

Boeing (BA)

Boeing shares continue to struggle, and that is terrible news for the stock. It is struggling to hold support at $371, and a drop below that level spells further downside risk with the potential for a decline to around $330.

boeing, ba

Amazon (AMZN)

Amazon is expected to see its ad business skyrocket in 2019. The stock, however, has not been skyrocketing. The big test for the stock continues to come at that downtrend, which is currently around $1700. That trend has held firm now since October. My often on and off call has been for the stock to fall to around $1,520. It has been torture the last few weeks to gauge the direction of this directionless stock.

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Disclosure: Michael Kramer and the clients of Mott Capital own Apple and Verizon

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

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