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13 Charts That May Predict Where The Stock Market Goes Next


13 Charts That May Predict Where The Stock Market Goes Next

Every chart is broken, that is all I can say, and honestly looking at all of these charts is starting to get confusing. What makes the charts so complicated is that last week most of these very same charts where showing breakouts all over the place. That is what makes the events of the past few days so strange. What seems even more strange is the VIX at 25. The S&P 500 was down 6 percent last week, and the VIX is only at 25?

The term structure of the VIX is still in backwardation.

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^VIX Chart

^VIX data by YCharts

The term structure of the SPY ETF options market is normal, and that tells us Volatility is expected to be short-lived.

spy

But at the current levels, the VIX is not high enough to indicate a capitulation type moment, and that has me concerned.


SPY

The volume in the SPY is not even nearly as high as what we saw in early February.

S&P 500

It suggests the selling isn’t over just yet, and that event may come sometime early next week.

When the market is this type of sell mode, fundamental’s mean nothing, because the machines are in control, and for most the part these algo’s are looking for levels.

Mott Capital Management, Michael Kramer

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Charts

Below I will run through a bunch charts I am watching closely, with the next support levels to watch for are, or levels that need hold.  I’m not saying the stocks go to those prices, I’m just saying this where they might gravitate towards. Also, if they hold it tells us a reversal may be in the works.

Technology ETF

The technology ETF has been entirely smashed and is right on its uptrend. Anyone who reads these columns enough knows these lines on the chart I don’t not change or move, once I have placed them. So the fact that the XLK closed right on the uptrend means something.

Again volume not that impressive in the XLK today either.

technology

Consumers

The same with consumer discretionary stocks.

consumer stocks

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Amazon

Amazon closed right at support around $1500, this is a significant level for Amazon, a break here, and it goes to the low $1,400’s.

amazon

Apple

Apple broke support at $168, it possible for a move to around $159.

apple

Google

Google must hold $1000, or we are going towards $920.

Google


Facebook

Facebook looks like it is going to $148.

facebook

Netflix

Netflix better hold at $295.

nflx

Tesla

Tesla must hold $290

tsla

Micron

Micron may be headed towards $49.

Nvidia

Nvidia..ugh $218???

nvda

More Saturday night into Sunday.

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Michael kramer and the clients of Mott Capital Own shares of NFLX GOOGL and TSLA

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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.

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Tags: #sp500 #tech #technology #amazon #vix #facebook #apple #google #tesla #nvidia #mu #netflix

 

 

 

 

 

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