7 Stocks To Lead The Market Higher on April 2, Plus A Bitcoin Break Out

US Markets

  • S&P 500 -2 points
  • US 10-Year 2.47%
  • Oil $62.08
  • Dollar Index 97.37
  • VIX 13.50

International Markets

  • China Shanghai +0.20%
  • Hong HSI +0.21%
  • Japan Nikkei -0.02%
  • South Korea KOSPI +0.41%
  • German DAX +0.16%
  • UK FTSE +0.64%

Global Growth Proxies

  • Copper $2.913
  • Silver $15.02
  • Platinum $854.70

Critical Events:

S&P 500 (SPY)

The news appears to be fairly quiet today with limited economic data. It will give the S&P 500 a good chance to continue where it left off on Monday. There isn’t much standing in the way of the S&P 500 rising further, as earnings season quickly approaches. The big test for the S&P 500 continues to be around this 2,870 region after that it would seem that all-times highs are around the corner.

S&P 500, spy

Technology (XLK)

The technology sector has already broken out and is now its way to testing its all-time high. The XLK is heading towards resistance at $76.26, after that it all-time high territory.

technology

Microsoft (MSFTWealth Strength IndexAAPL is Extremely Up and trending Up)

Microsoft is already trading at an all-time around $119. The stock appears to be breaking out again from a bullish pennant, and that likely means a move higher to around $127.

microsoft, msft

Visa (V)

Visa is another big reason the technology sector is moving higher. The stock is now the third largest part in the XLK, after the significant changes last fall. The stock is also breaking out and appears to be heading towards $165.

VIsa

Cisco (CSCOWealth Strength IndexAAPL is Extremely Up and trending Up)

Cisco is approaching a massive level of resistance at $55. Should the stock rise above this resistance region the next stop may be as high as $70.

cisco, csco

Intel (INTCWealth Strength IndexAAPL is Extremely Up and trending Up)

Intel looks as if it is heading back to its highs of the past two years at roughly $57. Intel, intc

Boeing (BA)

Boeing is moving higher the last few days, and the gap fill towards $425 appears to be in the works.

boeing, ba

Tesla (TSLAWealth Strength IndexAAPL is Extremely Up and trending Up)

There is a good chance we get Tesla’s delivery data today before the open. The moment of truth is coming at roughly $295.

tesla, tsla

Square (SQ)

Square will need to break out here at $76 otherwise the setup maybe turning negative.

square, sq

Bitcoin (BTC)

Believe or not Bitcoin is breaking out today and could be on its way back to $6,500. Great. Now we can hear about this ad nauseam. Nvidia and AMD may benefit in sentiment only, neither company sees meaningful revenue from this anymore.

bitcoin, btc

-Mike

This article first appeared on Mott Capital.

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.  bitcoin