Stocks Are About To Break Out And Head Towards Their All-Time Highs

US Markets

  • S&P 500 +4
  • US 10-Year Yield 2.54%
  • VIX 13.38
  • Dollar Index 97.27
  • $61.99

International Markets

  • China Shanghai – Closed
  • Hong Kong HSI -0.17%
  • Japan Nikkei +0.38%
  • South Korea Kospi +0.14%
  • German DAX -0.05%
  • UK FTSE +0.16%

Key News

International Trading

KOSPI

The good news is that the South Korea KOSPI continues to rise, and that is likely a positive sign for this exporter’s economy. The index is getting very close to having a pretty big move higher.

KOSPI

S&P 500 (SPY)

The story of the markets over the past two days has been consolidation. It appears that it is going to end today. Stocks are poised to break out once again and rise sharply. The S&P 500 seems to be nearing a pretty big break out, which could propel the index to 2,915. Here is my latest on Investing.com: The S&P 500 Could Rise To 3,200 In 2019 As Global Growth Returns

S&P 500, spy

Russell 2000 (IWM)

The Russell 2000 continues to trend higher with a target of 1,593 coming.

Russell 2000

 

Semiconductor (SMH)

The SMH semiconductor ETF looks as if it preparing to break out and move higher towards its all-time high of $114.60.

smh

FedEx (FDX)

In yet another sign that perhaps global growth may be on the rise, FedEx shares have broken out rising above critical resistance at $184.50. It could result in stock rising to around $201.

Fedex, fdx

McDonald’s (MCD)

McDonald’s price target increased today to $210 from $195 at Telsey. I still don’t understand this stock. I don’t think I ever will either. I wish all my companies could have the same performance of this stock. It amazes me how revenue can fall so sharply, but the shares continue to rise. Beats me.

mcdonalds, mcd

Intel (INTC)

Intel was downgraded today to market perform from outperform at Wells Fargo. Intel has come along way, and I still think it has further to climb testing the highs of last spring.

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Disclosure: Michael Kramer and the clients of Mott own Acadia

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

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