Tesla Model 3 Tesla's Stock Price

S&P 500, Technology and Biotech Showing Weakness

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

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S&P 500 Is Still Struggling

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First I wanted to give a big Thank You to MarketWatch.com for doing a write-up on our blog post from over the weekend, regarding Tesla.

Tesla’s biggest news last week was not the truck, says this fund manager

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The S&P 500 continues to deteriorate on a intraday basis, which again appears to be the making of a short-term pullback. I know we have been saying this for a days, but the chart tells the story. I am giving you my interpretation of what it represents.

S&P 500

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Tesla

Tesla shares continue to hang in. Shares spiked to nearly $325, following the Truck and Roadster announcement. But the stock sold-off late Friday, and continued to sell-off today some.

Tesla

The chart shows how the share of Tesla managed to find some support on the uptrend, and continue to hold the above the $303 level. Continue to watch Tesla, as it continues to act as a risk gauge for the market.

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Nailing The Biotech Breakout

Biotech’s Signal A Bottom

GE: Just Not Worth It Anymore

Disney Is Just Too Cheap


Biotech

Biotech’s failed to rally today, and in fact, it was unable to get back over $309 after falling below. Concerning, yes. Does it mean the turn around is over? No.

https://www.tradingview.com/i/2hms0dSB/

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In fact shares of Celgene briefly, touch support at $102.50 and managed to bounce right off.

CelG

Technology

Technology shares were also weak today, and again like the S&P 500 is showing signs of strain.

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amazon

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Shares of Nvidia have also struggled to regain previous highs. I’m drawing a downtrend line as of today. We’ll see where it goes.

Nvidia

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One last one is Amazon, sitting on the cusp. A break below its current $1,122 sends shares much much lower..

Amazon

Good night

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Free Articles Written By Mike:

Why The Worst Isn’t Over For IBM’s Stock

Amazon, Microsoft, and Apple May Fall Up To 11%

Qualcomm and NXP Are Cheap Based on Marvell Takeover

JP Morgan and Citigroup Are Facing More Decline

Why Biotech Sage Therapeutics Is Overvalued

Why NVIDIA’s Valuation May Be A Giant Bubble

Intel Could Fall 10 Percent Before Long-Term Rise

One Thing The Yield Curve Says About Stocks

Tesla’s Stock Heads To A Crossroad

Why Coca-Cola’s Biggest Return May Be Frustration

Biotech Alkermes Could Jump On Opioid Treatment Sales

Why GM Could Slide 10% After Bull Run

Why Biotech Stocks Are Nearing a Rebound

Higher Bid For Qualcomm Is Unlikely, Traders Indicate

Why Netflix, Nike and Starbucks Are Breaking Out

S&P 500 May Pull Back, Setting Up 20% Gain By End 2018

McDonald’s and Starbucks: A Case of Perception Vs. Reality

Nvidia Traders Expect More Gains for the Stock

Biotech Celgene Could Rebound By More Than 15%

Exxon, Chevron, and Oil Are Breaking Out

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Michael Kramer owns XLK Puts

Michael Kramer and the Clients of Mott Capital owns shares of CELG, TSLA

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.

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Tags: #Nvidia #SP500 #Technology #Microsoft #Amazon #Nvidia #IBB #Biotech