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Michael Kramer and Clients of Mott Capital own SWKS, NFLX
S&P 500 (SPY)
Stocks paused today with the S&P 500 falling 20 basis point to 2,731. It would seem the index is getting ready to break out tomorrow and push on towards 2,800 over the coming days.
Russell 2000
The Russell has a similar setup and appears it is gearing up for a rise too.
Semis (SMH)
Semis where hot again today, and to some degree, I’m beginning to think that the group needs to cool off some or at the very least consolidate. I talked about this morning in the premium area today. Semis May Need To Cool Off
Skyworks (SWKS)
Skyworks was the big winner today rising to resistance around $88. The RSI is overbought, and so a pullback to $81 would be welcomed and would allow the stock the ability to continue to climb without overheating.
Micron (MU)
Micron is now at an inflection point because the stock is at the upper level of resistance at $42. The trend in the RSI is also higher, but again we need to some consolidation in this region between $40 and $42, that would be ideal.
SNAP
Snap surged today after posting better than expected results. I can’t remember the last time that happened. Anyway, the stock traded up to around $8.90 and stopped, not the direction I was expecting. My feeling is that stock refills that gap back to $7.30, but I was wrong once.
Chipotle (CMG)
Chipotle is trading higher after it posted bettered results after a bunch of adjustments. Another one I got wrong. I had looked for a decline, clearly not what is happening.
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[youtube-feed feed=7]Netflix (NFLX)
Netflix had an ok day, down slightly, but more important is that it is managing to hold on its recent gains. The trend is still higher at this point, but resistance at $360 is proving to be difficult.
Amazon (AMZN)
Amazon continues to struggle and is hanging on at support around $1,620. The trend in both the stock and RSI is lower, and I still think the stock heads lower.
That is it for today.
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.