Round and Round The Market Goes, Where It Will Stop Nobody Knows

Independent macro and options research, published every trading day — $85/mo or $750/yr

August 29- Stock mentions: AAPL, NFLX, BABA, FB, SQ

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

Russell 2000 (IWM)

It would appear that the markets for the moment have escaped the abyss with the Russell 2000 rising by over 1.6% and closing pretty close to its highs. Now the Russell needs to clear a downtrend at 1,500, with a significant region of resistance waiting in an area of 1520 to 1536.

It seems as though the RSI is attempting to break out and push higher. It would at least indicate to me we likely see a test of the 1520 to 1536 region.

S&P 500 (SPY)

The S&P 500 is also getting close its big break out region at 2935. I went through the reason why in a video today. It seems possible that this may be the time the S&P 500 finally breaks and pushes towards 2950. Here’s Why The Long-Awaited Break Out May Finally Happen

Facebook (FB)

Facebook broke a downtrend today and is now testing resistance at $186 with a chance to push higher towards $194.

Netflix (NFLX)

Netflix looks like it rising above the falling wedge. But then it stalled out and appeared to have formed a new downtrend. I’d feel a whole better if the stock could get over $300. At that point, the chance for a push to $320 seems possible.

Apple (AAPL)

Apple stopped rising at $209.50 again, and it likely sets up a push towards $217.

Alibaba (BABA)

Alibaba is rising, but this thing has so much headline risk, it worries me. Resistance is around $178.

Square (SQ)

Square has been holding support around $62 and appears to be forming a double bottom. The stock would need to rise above $65.50 to confirm the double bottom. I will monitor this one.

At least tomorrow is Friday

-Mike

Michael Kramer publishes independent macro and options research read across 10+ platforms and by institutional desks. For research syndication, licensing, or consulting inquiries, visit michaeljkramer.com.

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.