Stock’s May Be Poised To Break Out During The March 4 Trading Session

US Markets

  • S&P 500 Futures +6.5 points
  • US 10-Year 2.74%
  • Oil $56.20 +$0.39
  • VIX 13.90
  • Dollar Index 96.59 +0.06

International Markets

  • Japan Nikkei +1.02%
  • Shanghai +1.12%
  • Hong Kong HSI +0.51%
  • Korea STI +0.95%
  • South Korea -0.22%
  • Australia 200 +0.40%
  • UK FTSE +0.45%
  • German DAX +0.10%

Global Growth Proxies

  • Copper -1.06% $2.9025
  • Silver -0.53% $15.175
  • Platinum -1.71% $848.90

International Trading for March 4

The China Shanghai composite jumped over 1% as hope continue to mount that a trade deal between the US and China may finally be reached. The Shanghai composite reached technical resistance at 3,065.

China, shanghai

Hong Kong HSI

Hong Kong HSI rose 51 basis points overnight to resistance at 28.980.

hong kong, hsi

Australia

Australia broke above a critical level of technical resistance at 6212.

austrailia

Again, it continues to be a positive scenario for many of the global stock markets.

US Trading on March 4

S&P 500 Futures

The S&P 500 Future is nearing a big break out and should they rise above technical resistance at 2,818 it may trigger a rise to roughly 2,900.

S&P 500,

S&P 500 (SPY)

On the S&P 500 should it rise above 2,812, it would trigger a break out to around 2870.

S&P 500, spx

Tesla (TSLA)

Tesla’s CEO Elon Musk said the Model Y unveil would be on March 14. The stock has a gap to fill up to around $320.

Tesla, tsla

Merck (MRK)

Merck’s stock is breaking out and could be heading to levels not seen since the year 2001. The stock rose above a key level of technical resistance last week around $81.25, and now may be on its way to $95.

Merck, mrk

Microsoft (MSFT)

Microsoft may be on its way back to $116, after rising above resistance at $112.

microsoft, msft

Johnson and Johnson (JNJ)

Johnson and Johnson rose above resistance at $136.75 and has a big gap to fill at $148.40.

johnson and johnson

Alphabet (GOOGL)

Alphabet is making its way higher and it is nearing a big break out should it rise above $1,170.

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Disclosure: Michael Kramer and the clients of Mott Capital own Microsoft, Tesla, and Alphabet

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

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