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July 25, 2020
Stocks – AMZN, AAPL, GOOGL, SHOP, FB, PYPL, BA, AMD
Macro – SPY, QQQ
Mike’s Reading The Markets (RTM) Premium Content – $35/Month or $300/Year
- It’s All About The Risk-On Trade – The Look At The Week Ahead
- EPS Trends May Be Stabilizing, Positive For Long-Term View On Stocks
- How Low Can Markets Go If The Uptrends Break
- Trends Suggest Lower Prices Lie Ahead – Midday
- Bears Circling In On Apple
- Uptrends Breaking Signal Bearish Turn
- The Momentum Trade Is Breaking
- Morning Write-Up
- AMD Breakout, Markets Holding – Midday
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL AND GOOGL
It will be a busy week for the markets with loads of economic data, earnings, and an FOMC meeting. It will be likely to set up a trend for the remained of the summer with positive news to help supply the market with the fuel needed to push shares higher, while disappointing results in sending shares lower. (RTM Premium content – It’s All About The Risk-On Trade – The Look At The Week Ahead )
S&P 500 (SPY)
The S&P 500 finished the week off its highs and found itself in a dangerous spot as it attempts to hold on to a critical support level. The S&P 500 had been trending higher since the end of June, forming a couple of bullish patterns along the way. But now that uptrend is broken. A drop below 3,200 sets up a drop to around 3,180 but triggers the possibility for a decline to approximately 3,115. Additionally, the RSI has seen its uptrend broken as well, suggesting the index test and falls below 3,180. (RTM Premium Content – How Low Can Markets Go If The Uptrends Break)
NASDAQ 100 (QQQ)
The NASDAQ 100 finds itself sitting on a crucial uptrend, and break of that uptrend triggers a sell-off to around 9,760. The RSI trend has also changed from higher to lower.
Amazon (AMZN)
Meanwhile, Amazon will report results on Thursday afternoon, and this stock is searching for its next level of support, which comes around 2,800. A drop below the uptrend can quickly send shares to approximately 2,450.
Apple (AAPL)
Apple will report results on Thursday afternoon also, and it has already broken its uptrend. A drop below $348, sets up a further decline to around $330. Again, the RSI here is pointing to lower prices. (RTM Premium Content – Bears Circling In On Apple)
Alphabet (GOOGL)
Alphabet will report on Thursday as well, and this stock finds itself at critical support at $1,500. Again the RSI, points to lower prices, with a support at $1,430.
Facebook (FB)
On Wednesday afternoon, Facebook will report results, and this stock has struggled for a few weeks now. Again, the RSI points lower, and the stock has stalled around $240. I think the stock falls back to $211.
PayPal (PYPL)
PayPal will also report results on Wednesday afternoon, and this stock has soared in 2020. But it seems like that big run has come to an end. There is a giant gap to fill around $124. While I don’t think the gap gets filled this week, a drop to $151 seems possible.
Shopify (SHOP)
Shopify will report results on Wednesday morning. This stock has seen its valuation rise to crazy levels. I still tend to think this stock heads lower to support around $742.
AMD (AMD)
AMD will report on Tuesday afternoon, and this stock broke last week. It has probably run-to-far-to-fast, and pulls back to and retest support at $59. (RTM Premium Content – AMD Breakout, Markets Holding – Midday)
Boeing (BA)
Finally, Boeing will report on Tuesday morning, and the stock has formed a bearish descending triangle, which sets up a decline to $125.
Have a great Sunday!
Mike
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.
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
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