STOCKS – SHOP, INTC, DIS, GOOGL, SQ

MACRO – SPY

Mike Reading The Markets Premium Content – $35/Month or $300/Year

• A Massive Week Lies Ahead For The Stock Market
• Proceed With Caution – Morning
• S&P 500 May Test 3000 Before Days End Again
• MARKETS MELTS – BE CAREFUL
• A Quick Fade Or The Start Of Something More?
• The Market Appears To Be Playing With Fire
• Bets The NASDAQ 100 Falls
• Starbucks Warns, May Be First Of Many
• Stock Remain Overbought SHORT-TERM Based On Indicators

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN GOOGL

It will be another busy week for stocks with Jay Powell slated to speak before congress on Tuesday and again on Wednesday. We will get some regional Fed data, the Germany ZEW survey, and the weekly jobless claims.

It will be important for the S&P 500 to hold 3,000 to start the week because if the index breaks 3,000 early in the week, it could put a lot of pressure on equities for the entire week. Should the index break 2,950, things could get tricky and result in a fast drop to around 2,860.  (premium content –  A Massive Week Lies Ahead For The Stock Market)

This week is also options expiration, and the significant open interest levels are at 2,800, 2,900, and 3,000. These significant open interest levels could act as magnets this week, should the markets begin to move lower.  Open interest levels thin out after the 3,000 strike price. 

Disney (DIS)

Disney broke an uptrend, and I still happen to think investors are underestimating the potential damage that is beginning inflicted on Disney, and that the stock has further to fall. The next significant level of support for the stock comes around $109. 

Alphabet (GOOGL)

Alphabet broke the uptrend, and now $1,430 is acting as resistance. The uptrend in the RSI is broken, and that suggests the stock move lowers towards support at $1360. 

Square (SQ)

Square tested and held the uptrend this week, but the RSI is now moving lower, and that suggests the stock breaks the uptrend and moves lower to $79. 

Shopify (SHOP)

Shopify has been losing a lot of momentum in recent days, with an RSI that is steadily trending lower. All it will take is a break of support around $675 to push shares back to $590. 

Intel (INTC)

Intel broke its uptrend on the RSI and couldn’t get back above $59.75 last week. It probably means it continues lower towards $55.90. 

Anyway, that will be all, 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.