- S&P 500 -2 points
- US 10-Year Yield 2.51%
- Oil $64.62
- VIX 13.39
- Dollar Index 96.92
- 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
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.
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.
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.
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?
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.
Alibaba continues to look strong, and should it rise above $188 it likely continues up to around $209.
Amazon is also nearing a break out at $1850 which could result in the stock rising to around $1900.
Apple is trading above $200 this morning and continues to be on a path to $209.
That’s going to be it.
This article first appeared on Mott Capital.
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