Stocks finished the day higher Friday with the S&P 500 rising by over 60 basis points. Finally, the S&P 500 managed to push above resistance at 2,891. It makes 2915 the next and last resistance level before we are talking about all-time highs.
It has been a long journey. If you want to know just how long, take a look at the chart below, you can see how much work we have done along the way.
Disney (DIS)
Walt Disney Company (NYSE:DIS) had a big day. The strength was surprising with shares rising nearly $14, more than 10%. The stock blew right through the old all-time highs and resistance, increasing to $130. You can see on the chart; I circled, the stocks journey over the past four years just how much it rose today.
Netflix (NFLX)
Netflix (NASDAQ:NFLX) shockingly fell by nearly 5% today. I’m not sure what the thinking here is. I will be shocked, shocked if Netflix sees any impact from the Disney product. Disney has a niche streaming service for viewers that specifically only want to watch Disney content. Unless you are just watching Disney content on Netflix, there would be no reason to cancel. Netflix reports next week; it will give them the opportunity to discuss these concerns.
JPMorgan (JPM)
JPMorgan (NYSE:JPM) had an enormous day following it beat on top and the bottom lines. $113.50 appears to be resistance.
Roku (ROKU)
Roku Inc (NASDAQ:ROKU) fell today, and I continue to think this one head to around $52.
Acadia (ACAD)
ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) has started breaking down here, and I can figure out why? The stock appeared to have broken out, and since the 9th the stock has begun turning lower. The 9th was the day the company present at the Needham healthcare conference. I listened to the meeting and didn’t hear anything disturbing, but you should listen from around the 26-minute mark. The CEO, Steven Davis responds very positively in my opinion. It makes me believe the drift lower may be sector related that than stock specific.
