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S&P 500, Amazon, Microsoft, And Apple Getting Ready For A Fall
Stocks continued their rebound on Friday but faded towards days end. The S&P 500 was able to get all the way to our trend line at 2,760 but failed. It also reverted below support at 2,742 and as the chart shows was unable to rise above that level despite a few attempts. It was a week ago that signs emerged a bottom had been put in place. But it is today that signs are emerging, the recent run-up may have some to give back next week, and could even see a pullback to 2,691. Not a massive decline, but given the volatility in recent weeks enough to put some investors and the media on edge.
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The chart of the VIX shows a rise back toward 25 could be in order over the course of next week.
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Looking Tired
Amazon is showing signs of severe fatigue. The stock stopped rising right near its prior highs, and as the chart shows, the previous uptrend has turn into resistance.
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While Microsoft is all looking a bit tired.
Apple too.
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Not Doomsday
Again, this is NOT a doomsday scenario, but the recent rally has gone too far too fast after a steep decline. So a natural pullback would be more than healthly. But I will continue to explore this and bunch of other exciting topics over the long weekend.
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Tags: #sp500 #apple #microsoft #amazon #vix
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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