This Is Why Stocks May Fall On Feb. 20, But Don’t Expect It To Last

U.S. Markets:

  • S&P 500 Futures are ponting to a 2 point decline on February 20
  • US 10-Year: 2.63%
  • Oil: $55.84 -$0.25
  • VIX: 15.15
  • Dollar Index: 96.61

International Markets:

  • Japan Nikkei: +0.60%
  • China Shanghai: +0.20%
  • Hong Kong Hang Seng: +1.01%
  • South Korea Kospi: +1.09%
  • UK FTSE: +0.15%
  • German DAX: +0.29%
  • German 10-Year Bund: 0.095%
  • Japanese 10-Yr JGB: -0.04%

Global Growth Proxies

  • Copper: +0.19% $2.88
  • Platinum: +0.84% $827.90
  • Silver : +0.43% $16.03

Key Event:

  1. FED Minutes today at 2 PM
  2. BOJ may ease further
  3. ECB may lend more to banks

International Trading:

South Korea KOSPI

Equities in Korea rose over 1%, and now the Kospi is breaking out. It further strengthens the narrative that global equity prices are still in full rally mode. The Kospi could rise to nearly to 2,360.

south korea

Singapore STI

You can add Singapore to your list of international stock markets that are breaking out.


U.S. Trading

S&P 500 (SPY)

S&P futures are pointing to a slightly lower opening. But as I said last night my expectations are for a pullback on the S&P 500 for a decline to roughly 2,750 to 2,760, about 1%. As I have said, I think it would  be a one or two-day event. Nothing earth-shaking. Hopefully, I will be proven wrong.

S&p 500

Tesla (TSLA)

According to Electrek Tesla is going to start offering Model 3 leases. Additionally, it is estimated that Tesla is shipping 4,000 Model 3 to Europe. The Bloomberg Model 3 tracker suggests that Model 3 production is now trending well over 6,000 cars per week, there model has been very accurate. 

The stock looks like it ready for a big break out sending it to $330. I know, I have said this before, over the last two weeks, but the odds seem to be improving.

tesla model 3

Cisco (CSCO)

Cisco issued a report that states mobile data usage is about to explode through the year 2022. Cisco broke out rising above resistance at $49.30, and that level should act as support on a long-term rise towards $55.

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Disclosure: Michael Kramer and the clients of Mott Capital own Cisco, 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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