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Bulls Vs. Bears
The Bears tried to crack this market to start the day, thinking Bulls would be afraid to step in with geopolitical tensions on the rise. Apparently, the Bulls failed to get the message, because by the end of the day the S&P 500 closed basically flat recovering all of the day’s losses.
It seems to be a repeating theme in the market, which just makes you wonder what will break the camels back and send stocks lower? Â Even the VIX rose sharply, but quickly gave most of those gains back by the end of the day as well.
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The Real Fear Guage  – The Yen
The real fear gauge the Japanese Yen, even found itself reversing, and actually formings a reverse head shoulder on the tick chart, indicating the Dollar could be starting to see a bit of a bounce higher.
Japanese yen by Scorpio244 on TradingView.com
While Biotech continues to grind lower, looking as though it is moving closer to the $310 level on the IBB, setting up a descending triangle pattern, a reversal pattern, a set up for the ETF to move higher.
biotech by Scorpio244 on TradingView.com
We’ll keep watching,…
Free article picks of the day:
Snap Needs a Strong 2Q to Stop Its Free Fall
Biotech Acadia Sends a Loud Message to the Market
Nvidia Needs Big Numbers to Keep Its Stock Flying
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Michael Kramer and the clients of Mott Capital own shares of ACAD
Disclaimer: 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 recommendation made during the past twelve months. Past performance is not indicative of future performance.
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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.