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3 Stocks Set To Rip, and 3 Stocks Set To Dip – The Daily Rundown
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mICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF NFLX
Things are up to heat up tomorrow in the stock market, and there will likely be no shortage of the usual post-FOMC stock market state of confusion. The only thing that matters after the meeting tomorrow will be the commentary following the announcement of the rate hike. Forecasts predict the Fed will raise effective funds rates by 25 bps.
S&P 500
The chart of the S&P 500 suggests the S&P 500 will attempt to rise above 2,800 tomorrow, with a pretty strong continuation pattern in place.
I feel like overall the newsflow is dull, outside of the geopolitical landscape and macroeconomic forces. Naturally, all of these situations have an impact on the broader equity market, but the transition of waiting is plain dull.
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Amazon
But if the market is to rise, then the questions is which stocks will lead? Well, we can start at the top, with stocks like Amazon, which continues to look strong, and appears to be poised to rise.
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Netflix
Netflix shares have also resumed there rise higher as well.
Boeing
Boeing shares appear to be getting ready to break out as well. In fact, I notice some call buying on June 6, of the $400 strike price calls for expiration on September 21. The options trade at roughly $8 per contract and would suggest the stock rise to about $408, by expiration, an increase of approximately 10 percent.
Intel
I had commented that Intel’s stock looked ready to fall, and indeed it has. The chart below shows the stock falling below the lower end of the rising wedge pattern. I do not entirely know how far it goes down, to be honest. I can see stopping at the uptrend around $53, or dropping all the way to $50. I guess shall find out soon.
Gilead
There is like an unpenetrable wall of resistance at $72.15 in Gilead as if I could not have drawn resistance any better. You think a seller lives there?
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[youtube-feed feed=7]Bank of America
It looks like Bank of America is coming to a crossroad, does it break higher or lower? Good questions. If I had to guess, I’d say lower. In the member area today, I went through the scenario why I think bank stocks may be in trouble. (See: Banks In Danger Zone, PLUS Amazon & Tesla More)
Copper
Keep on an eye on Copper here; it is bumping up some long-term resistance, and a breakout would be good for stocks like Freeport. But it is an inflation gauge, so we need to watch it.
Oil
I think Oil is setting up for its next leg lower, could be tomorrow! Watch out. $61 here we come!
I’m off to bed, it isn’t fun being sick, but the market stops for no one.
-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.Â
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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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