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STOCKS – AAPL, NFLX, NVDA, MU, T
Macro – SPY, GLD,
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- 7 Themes For The Week Of September 28
- RTM Live Webcast 9.24.20 – Replay
- Risk Aversion Rising – Midday
- More Derisking Taking Place
- Stocks Fail, 2,860 Still In Play
- Stocks Failing At Tough Resistance Levels
- Stock Mount Weak Rally, Watch For Afternoon Fade- Midday
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL
It will be a big week for stocks, with a lot of economic data that is likely to move markets. The S&P 500 finds itself in at a make or break moment as it nears a level of technical resistance at the upper end of its trading channel. If the S&P 500 futures can’t clear and hold above 3,312, it seems likely we head to 3,150.
Navigating The Market · By Michael Kramer Independent macro and options research, published every trading day. Daily written analysis covering gamma exposure, dealer flows, key levels, and the macro drivers moving markets. Includes full video access. Recent Subscriber Analysis
Gold (GLD)
I also happen to think that gold will suffer as well, likely falling to $1,790.
Netflix (NFLX)
Netflix appears to be in a megaphone pattern, and that likely means it falls to the lower end of that pattern this week to around $450.
Micron (MU)
Micron will report results this week, and some bearish bets in the options market, indicate the stock falls to around $45.50. (Surging Volatility May Send Micron Shares Sharply Lower Following Results)
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Nvidia (NVDA)
Nvidia has been flirting with breaking the uptrend for a couple of weeks, and if the market breaks this week, so will Nvidia, potentially falling to about $460.
Apple (AAPL)
Apple is facing stiff resistance at a downtrend too. Perhaps this is the week it finally breaks and falls to $96.
AT&T (T)
AT&T has been falling apart, with its next stop likely at $27.30.
Have a great Sunday, feeling a bit under the weather today, so keeping it short.
-Mike
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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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