S&P 500 (SPY)
Stocks rose on March 1 by about 70 basis points. The rise Friday was pretty much what I expected, with a move back over 2,800. The big test will come around 2,812, but my expectations are for that to level to be taken out by early next week, perhaps even Monday. Again a rise above 2,812, like pushes the S&P 500 back to 2,870.
NASDAQ (QQQ)
The NASDAQ is also closing in technical resistance at 7,625.
Russell (IWM)
The Russell is trying at 1,592
Biotech ETF (XBI)
The biotech ETF XBI already broke out and is now on track to move towards $97.90.
Amazon (AMZN)
Amazon’s stock finally started to lift, and again I still see this one rising to around $1,770. I’m not sure what their plan is with these supermarkets. It is a very low margin business for a company that already struggles with its margins. If not for AWS Amazon’s earnings would be a fraction of they are now. I wrote for Investopedia, "Amazon’s non-cloud businesses had an operating income of just $5.1 billion, and an operating margin of only 2.4%. The cloud represents nearly 60% of Amazon’s total operating income of $12.4 billion in 2018, despite sales representing only 11% of the company’s total revenue."
JD.com (JD)
JD continued to rise today and is butting up against some resistance at $29.35, which we knew was there. But for now, the stock is struggling.
Tesla (TSLA)
TSLA up, Tesla down. It is in the same spot it finished the last week. All that noise for nothing. Nothing changes except that the uptrend continues to hold firm.
Netflix (NFLX)
The good news for NFLX is that it fell to $355, and held.
Acadia (ACAD)
ACAD tested $27.20 today, but if the XBI keeps going up, then this will too.
