Subscribe to receive this daily commentary directly in your email
Independent macro and options research, published every trading day — $85/mo or $750/yr
Subscribe →1/19/2022
STOCKS – AAPL, AMZN, NXPI, NVDA
MACRO – SPY, SMH
- RTM: A Long-Term Peak For Stocks?
- RTM- Watching Rates For Next Leg Up
- RTM Tactical Update: The S&P Faces A Two Front Assault
- RTM: Technical Breakdowns
- RTM: Where’s The Growth? The Whole Thing Has Been An Illusion
- RTM: The Looming Recession
- RTM Technical Update: Watching The SPX Reversal Pattern
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL
Another day, another sharp decline in the stock market. It was a dull day until around 3 PM when the flood gates opened. That was when the Intraday bear flag broke, and everything caved.
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
S&P 500 (SPY)
In the meantime, the S&P 500 broke the lower uptrend and bound of the Diamond pattern we have been tracking. The index closed right at the December 20 lows. My expectations are for that low to break and the index to drop back to the October lows around 4,360. There is very little support once the index breaks 4,500, so a decline could happen quickly.
Semis (SMH)
The SMH had a significant breakdown today, falling below an uptrend that started last year. Imagine if this turns out to be a giant throw-over of a rising wedge pattern. That would be incredible; $250 would merely be a support level on the way much lower.
Nvidia (NVDA)
Nvidia dropped by 3% and is now 27% off its highs, and that gap at $231 is screaming to get filled. That’s about another 8% away from the close of $250.
The Market Chronicles · Video Membership The daily market commentary, delivered in video. Same daily market analysis, in video form — available to YouTube channel members only. Latest Videos
NXP Semi (NXPI)
I can’t remember, but I think I recently mentioned that NXPI was breaking down and out of a falling wedge. There is a gap at $200 that needs to fill.
Apple (AAPL)
It looks like Apple has formed that Head And Shoulders pattern I mentioned over the weekend. It is all but confirmed at this point, but we need follow-through lower to make sure. The low $150’s seems like the next stop.
Amazon (AMZN)
I have some bad news for Amazon because the stock just broke a major trend line on a closing basis. So many people probably think the stock has formed a bullish flag pattern; it has not. Notice that the channel portion of the “FLAG” is sloping higher, and a flag pattern slopes lower. So the pattern that has formed is a reversal pattern and suggests that Amazon drops. The stock probably breaks the $3,000 mark very soon.
Take care.
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.
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.
Liquidity Drain Set To Begin as Treasury Issuance Picks Up
Mott Capital's Market Chronicles 9 hours ago