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September 6- Stock mentions: SPY, NFLX, LULU, UBER, SNAP
Michael Kramer and the clients of Mott Capital own NFLX
- US Markets
- S&P 500 Futures +10.50 points
- 10-Year Yield 1.6%
- Dollar Index 98.50
- Oil $55.20
- VIX 15.8
International Markets
- Japan Nikkei +0.54%
- Hong Kong HSI +0.66%
- China Shanghai +0.46%
- South Korea KOSPI +0.22%
- Germany DAX +0.4%
- UK FTSE -0.07%
It will be a busy day believe it or not, with the BLS Jobs report and then a speech by FOMC Chair Powell at 12:30 PM.
The BLS report seemed like a non-event with job creation of 130,000 versus estimates of 160,000. Meanwhile, the unemployment report of 3.7% as expected. Wage growth was fine at 3.2%. I don’t see any issues here that will derail the market.
International Trading
Markets overseas continue to rise and have been consolidating sideways at the moment. It should help to push markets like in South Korea higher next week.
US Trading
S&P 500 Futures
A similar type of pattern has been created in the S&P 500 Futures. It too is a continuation pattern that would indicate that the market rises and push towards 3,000 and the uptrend. Premium content: The Trend For Stocks Has Turn Higher
Lululemon (LULU)
Lululemon reported better than expected results, and the stock has received several upgrades. The stock is rising above resistance $195 on September 6. This region should help to act as support going forward.
Netflix (NFLX)
At least for the moment, Netflix is rising above the upper end of the falling wedge. Does that mean a break out can happen? Perhaps. I’d feel a lot more optimistic if the stock can get over $300.
Uber (UBER)
I think Uber may finally be oversold, with the chance for the stock to rebound to around $35.85.
SNAP (SNAP)
Snap looks like it getting ready to make a run higher too, perhaps to $18.50.
Have a great one!
-Mike
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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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