These Are The Stocks That May Lead A Rebound On March 5

US Markets

  • S&P 500 Futures +1.25 points as of 8:15 AM
  • 10-Year Treasury 2.73%
  • Oil $56.64 +$0.05
  • VIX 14.38 -0.25
  • Dollar Index 96.71 +0.03

International Markets

  • China Shanghai +0.88%
  • Hong HSI +0.01
  • Japan Nikkei -0.44%
  • Singapore STI -0.52%
  • South Korea KOSPI  -0.52%
  • Australia ASX -0.29%
  • UK FTSE +0.24%
  • German DAX -0.15%

Global Growth Proxies

  • Copper +1.2%
  • Silver +0.13%
  • Platinum +0.23%

Global Trading

Global markets were mixed on March 5 with prices rising in China, but falling in South Korea. For now, South Korea is struggling to get back to resistance at 2,220. The index has fallen to 2,180. Support for the index comes around 2,140, and while this pullback isn’t dire, it is a divergence from what we have seen. While it is also unclear how much of this pullback is due to the break down last week in US-North Korea talks.

Korea

US Trading

The S&P 500 Futures are struggling at resistance of 2,818. This will continue to be a level of resistance for the futures.

S&P 500, SPY

S&P 500 (SPY)

S&P 500 will attempt to break out again today, and 2,800 and 2,812 will continue to serve as resistance. For now, my outlook for a breakout and an increase to 2,870 is unchanged, at this point.

S&P 500, spy

Salesforce (CRM)

Salesforce has recovered a good part of last night post-results decline, with the stock down just 1.5%. Support is around $153, and resistance is at $161.

salesforce, crm

Alphabet (GOOG, GOOGL)

Needham started Alphabet with a buy rating. Alphabet has started to quietly creep higher. The stock has found some resistance around 1,160 and should the stock rise above that level, it would break a big downtrend and potential trigger a rise towards $1,225.

alphabet, googl

Ctrip (CTRP)

JPMorgan upgraded Ctrip to overweight from neutral. The stock is nearing a potential break out at $35.50 which could send it higher towards $38.25.

ctrip

Netflix (NFLX)

We are going to have to watch Netflix closely today now that support at $355 has broken. Support comes again at $337.

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Disclosure: Michael Kramer and the clients of Mott Capital own shares of Alphabet, Netflix, Visa, and Mastercard

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

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