This Is Why Stocks Are Poised To Surge Higher On April 11

US Trading

  • S&P 500 Futures +4 points
  • 10-Year Yields 2.48%
  • Oil $64.07
  • VIX 13.14
  • Dollar Index 96.93

International Trading

  • China Shanghai -1.6%
  • Hong Kong HSI -0.93%
  • Japan Nikkei +0.11%
  • South Korea Kospi – Flat
  • Germany DAX +0.29%
  • UK FTSE +0.17%

Global Growth Proxies

  • Copper -0.41%
  • Silver  -0.88%
  • Platinum -0.41%
  • Semis SOX +0.86%

Key News

Futures

S&P Futures are nearing a big break out at 2,898. It could trigger a rise to 2,942 on the futures.

S&P 500 futures

S&P 500 (SPY)

Should the futures hold the S&P 500 cash is pointing to a breakout today that would push the index above the resistance level at 2,891 that we have watched so closely in recent trading sessions. It would set up a rise towards 2,915.

S&P 500

Tesla (TSLA)

Tesla shares are falling after the Nikkei Asian Review noted that Panasonic and Tesla were freezing spending on gigafactory 1 in Nevada. There are so many moving parts lately to the Tesla story that even after the company for almost 5-years it is getting increasingly difficult for even me to know fact from fiction. Even Electrek is questioning the report.Bloomberg, model 3 tracker despite running hot last quarter, is still showing plenty of production coming out for the Model 3.

The stock is once again testing the lower end of the range.

tesla, tsla

Chipotle (CMG)

Chipotle was downgraded today at Jefferies to hold from Buy with $300 price target. The trend, for now, continues to look higher with $760 the next major level of resistance.

Chiptole, cmg

Eli Lilly (LLY)

Eli Lilly was downgraded at Guggenheim to neutral from buy. This stock has been a beast, but for the first time, one can look at the chart and say that perhaps the trend has finally started to shift. $122 is still a healthy level of support.

lilly

Disney (DIS)

Today’s is the big even for Disney with their investor day. Unfortunately, we will need to wait until 5:20 PM to start getting the details because that is when it starts. You can watch it live.  To say I’m excited about the event is an understatement. I have waited for this the past few years.

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Disclosure: Michael Kramer and clients of Mott own Apple, Disney, Tesla, Netflix

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

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