S&P 500 Overview: Will 2800 Prove Resistance?
- Key level from last October, November, December.
- Index is furthest from 50-day MA greatest since 1/26/18.
- Good news of China calm priced in — for now.
- Need signal before looking to get short.
- Likely better to focus on individual sectors/stocks over broad index.
Don’t Forget About IPOs
- Lyft coming to market by early April, Pinterest possible in early June
- Peleton just hired JPM, GS.
- Do you have ClickIPO?
Powell in the Senate Tomorrow
- Focus on balance-sheet reduction (hawkish) / maintenance (dovish).
- Gold (@GC), Silver (@SI) in focus.
- GDX, SLV, NEM, WPM potential equities to watch.
- Check out the gold / silver ratio chart of the week.
New Leaders and Narratives Emerging
- Hotels & leisure outperform on signs of pricing power:
- MAR, HLT, RCL, NCLH
- Chinese Internet stocks still far from old levels
- Also, new China techs like TME, IQ, HUYA, CLPS, BILI have emerged.
- Cybersecurity quietly running: FTNT, ANET, PANW
- ZNGA, HUYA strong as ATVI, EA, TTWO struggle.
- Turnarounds galore: GRMN, SNAP, GE, SYF, COTY, HBI, ALB, XRX
Don’s Watch List
- Kohl’s (KSS) potential value play
- Celanese (CE)
- Best Buy (BBY) potential turnaround story
- Comerica (CMA)
- Smuckers (SJM) potentially bottoming
Russell’s Watch List
- TEVA struggling with debt, drug-price negativity.
- Japanese yen @JY bearish triangle.
- @DX two bearish outside days this month as Powell spikes the punch bowl.
- General Motors (GM) drifting higher. Is June high over $44 in play as Barra cleans house?
- Salesforce (CRM) potential meltup into March 4 earnings.
- Will Facebook (FB) run toward July gap down?
- Keep watching Brazil for pension news.
- Criteo (CRTO) potential growth-stock turnaround.