4 Stocks That May Lead A Stock Market Rally On April 9

US Trading

  • S&P 500 -2 points
  • US 10-Year Yield 2.51%
  • Oil $64.62
  • VIX 13.39
  • Dollar Index 96.92

International Trading

  • Japan Nikkei +0.19
  • China Shanghai -0.16%
  • Hong Kong HSI +0.27%
  • South Korea Kospi +0.13

Global Growth Proxies

  • Copper $2.9515
  • Silver $15.25
  • Platinum $906.30
  • Semiconductor SOX Index 1,481.38

Key News

US Trading

S&P 500 (SPY)

The S&P 500 is gearing up for a potential rise today, despite the futures being slightly lower. The index broke above a resistance level at 2,891. It would suggest the index continues to move higher towards 2,915.

S&P 500, spx

Consumer Discretionary (XLY)

The discretionary stocks are also nearing a pretty big break out of own, which could send the ETF to a record high.

discretionary, xly

Costco (COSTWealth Strength IndexCOST is Moderately Flat and trending Up)

Costco saw its price target rise to $265 from $250 at Telsey. The stock is trading around an all-time high, and it may a bit overbought here, with the potential to pull back to around $225.

costco, cost

Disney (DIS)

Disney continues to move higher, and it is inching a big break out. The company has its investors day on April 11. The stock was upgraded to outperform from market perform at Cowen.  I wrote this yesterday on Disney.  Disney’s Investor Day: A Catalyst For The Stock?

disney, dis

Roku (Roku)

Roku fell through support yesterday, and I fear it is now in danger of dropping to around $52. The RSI is starting to trend lower too, which would suggest momentum is moving out the stock.

Roku

Alibaba (BABA)

Alibaba continues to look strong, and should it rise above $188 it likely continues up to around $209.

alibaba, baba,

Amazon (AMZNWealth Strength IndexAMZN is Moderately Flat and trending Up)

Amazon is also nearing a break out at $1850 which could result in the stock rising to around $1900.

amazon, amzn

Apple (AAPLWealth Strength IndexAAPL is Extremely Up and trending Up)

Apple is trading above $200 this morning and continues to be on a path to $209.

apple, aapl

That’s going to be it.

-Mike

This article first appeared on Mott Capital.

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