Subscribe to receive this FREE daily commentary directly in your email
1/23/21
STOCKS – AAPL, BA, PG, WDC, SBUX
MACRO – SPY
Mike’s Reading The Markets (RTM) Premium Content – FREE 2-WEEK TRIAL
- EARNINGS PREVIEWS – MSFT, AMD, T, AAPL, TSLA, FB
- Trends To Watch For The Week Of January 25, 2021
- Update Board 1.22.21 – The GME Play-By-Play, SMH Overvalued To Qs?
- Midday – A Reminder Of How Dangerous Being Short Is
- Analysis – Intel Slumps On Manufacturing Commentary
- Morning Note – Options Market Not Pricing In Higher Equity Prices
- Update Board 1.21.21 – Ford Squeeze, Intel Call Buying
- Yields And Inflation Rate May Be Predicting Lower Equity Markets
- Morning Note- Epic Melt-Up Not Likely, VIX At Bottom Of Range
- Intel May Jump Following Quarterly Results
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL
The FOMC meeting and press conference will highlight the week of January 25. At this point, it is hard to imagine there is much for the Fed to do, especially with another round of stimulus on the way from the fiscal side of things. So it seems unlikely that the major indexes should see much in the way of volatility around that meeting. (Premium subscriber content on SA Marketplace – Trends To Watch For The Week Of January 25, 2021)
It will be a big week for earnings, and if anything is going to move things around, it is more likely to be the earnings results. (Premium subscriber content – EARNINGS PREVIEWS – MSFT, AMD, T, AAPL, TSLA, FB)
S&P 500 (SPY)
The S&P too did manage to rally by around 2% last week, following the better than expected results from Netflix, putting a bid into the entire technology and communication sectors, helping to drive the indexes higher. However, the S&P 500 did stall around 3,850, as that was one of the big options related to gamma levels that keep the index from pushing even higher.
Apple (AAPL)
It looks like Apple broke out this past week, coming out of a bull flag, with an extension of that flag indicating the stock moves higher towards $150.
Boeing (BA)
Boeing also has a bull flag like Apple, which suggests that higher prices await this stock and the potential to climb to around $240.
Starbucks (SBUX)
Starbucks will also report results this week, and at the moment, it appears that the stock has formed a head and shoulders pattern. A drop below $101 would confirm this bearish technical pattern, and a drop to around $95 is on the horizon. The RSI is trending lower, suggesting bullish momentum is leaving and supporting the bearish outlook.
Procter and Gamble (PG)
Procter and Gamble had a terrible week despite reporting better than expected results. The stock has confirmed its bearish technical pattern, the double-top pattern when it fell below support at $134. The next price to watch for is $125.75.
Western Digital (WDC)
Western Digital also has a potentially bearish head and shoulders pattern in the chart. In this case, the stock would need to fall below support at $47.85 to confirm the bearish pattern and see it fall to around $40.80.
-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.
Subscribe to receive this FREE daily commentary directly in your email
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.
CTA And Volatility Funds Poised To Drive Market Pullback
Mott Capital's Market Chronicles 5 hours ago