Monster Market Predictions For the Week of June 3

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For the Week of June 3 – Stock Mentions: SPY, QQQ, SMH, AAPL, FB, NFLX, BABA, JD, ROKU, ACAD

Michael Kramer and the clients of Mott Capital own AAPL, NFLX, ACAD

Economic Data for the week of June 3

The week of June 3 will be filled with tons of economic data. On Sunday night we get the China Caixin manufacturing PMI with estimates for 50. On Monday we get the US ISM Manufacturing PMI and forecast are for a reading of 52.9. We will also get the German PMI on Monday morning with estimates for 44.3. On Wednesday, we will see the ADP Private payroll results, with expectations for job creations of 175k. Additionally, Friday will bring us the BLS Job report and estimates are for the creation of 180,000 jobs, and an unemployment rate of 3.7%.

Trade Developments

Well, to no surprise China came out and squarely blamed the US on the collapse of the trade talks. In an interview, China noted the bridge is too wide to mend in a month. How will the market react? I don’t know, but it could have been much worse, at least the window is open.

On the Mexico front, the Mexican president has noted they are willing to work with the US to avoid having the tariffs placed –that seems like a piece of good news.

Technical Focus

Anyway, with that said plenty is happening this week that could result in the market rebounding sharply or plunging into the abyss. Which way shall it go is anyways guess, but I will do my best to try to lay it out for you.

Let’s just put the fundamental to the side because at times of considerable uncertainty the fundamentals do not matter, besides I layed that our yesterday for you.

Stock Market Outlook for the Week of June 3

S&P 500 (SPY)

The S&P 500 had a bullish reversal pattern form on Friday. It is likely to result in a reversal from this current downtrend this week. However, it may not happen at the start of the week, and even if the index were to fall to 2,737, the pattern would still be intact. Unfortunately, the index has a tremendous amount of resistance around 2,800 and a massive downtrend that has been impossible to break. So if we do rebound this week, I see the S&P only reaching 2,800.

NASDAQ (QQQ)

We can see a similar pattern has formed in the NASDAQ, which also suggests a rebound is on the way, but this one goes to around 7,625.

Semiconductor (SMH)

The SMH has already exited its downtrend and has started its reversal pattern, and that could result in the SMH rising to around $106.

Apple (AAPL)

Apple has also broken free of its downtrend and wedge, while successfully holding the retesting the break out. It likely results in the stock rising back to $182.

Netflix (NFLX)

Netflix continues to hold support at $341, and a rebound could send the stock back towards $380.

Facebook (FB)

Facebook, looks as if it has fallen below a descending triangle, and could be set up to decline to $173.

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Charts used with the permission of Bloomberg Finance L.P. 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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Alibaba (BABA)

Alibaba looks as if it could still be in trouble and decline towards $141.

JD (JD)

Meanwhile, JD could be on its way towards $24.85 or lower.

Roku (ROKU)

It looks like Roku is forming a symmetrical triangle and that could push the stock higher to $102.

Acadia (ACAD)

Anyway, has it already been six weeks since Acadia finished the enrollment for its Enhance 1 study in schizophrenia? That means we could see results pretty soon. Very excited to see what happens. I think they likely to be good results.

-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. ACAD NFLX AAPL JUNE 3

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Charts used with the permission of Bloomberg Finance L.P. 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.