Subscribe to receive this FREE daily commentary directly in your email
STOCKS – BA, WFC, TWLO, NFLX, XOM
MACRO – SPY, QQQ, RATES
Mike Reading The Markets Premium Content – $35/Month or $300/Year
- The Market Appears To Be Playing With Fire
- Bets The NASDAQ 100 Falls
- Starbucks Warns, May Be First Of Many
- Stock Remain Overbought SHORT-TERM Based On Indicators
- Mixed Signals – Midday
- There Is A Lot Of Froth In Over Heating Market – Morning
- Exxon’s Recent Surge May Fade Fast
- Setting Up For A Sizable Pullback Short-Term – Midday
- Its All About The Fed This Week
- Earnings Trends For 6.6.20
Don’t forget it is an initial claims day, but more important is that continuing claims number.
Stocks are falling on June 11, with markets around the world pushing lower. The S&P 500 futures are currently down about 2.1%, certainly nothing major given the huge run-up we have seen, but something that we need to take note of, and certainly think hard about. For now, the S&P 500 is merely back to its June 4 levels. The big trouble doesn’t start until we get below 3080. That is where the market will flip from a positive gamma zone to a negative gamma zone and will result in more volatility and potentially more significant declines.
With options expiration next week, a quadruple witching expiration, we could see volatility pick up should that level be broken.
NASDAQ 100 (QQQ)
Meanwhile, trouble doesn’t pick up for the NASDAQ until it falls below $240, based on the charts.
VIX
The VIX is jumping today to around 30. That has been a significant level for the VIX, and a push above 30 gets things it moving lower in the equity market, with the next significant level of resistance around 40 for the VIX.
Boeing (BA)
Well, Boeing is dropping sharply today, already down 6%, and I’m not sure if we moved into the year 2000 bust part of the cycle for this stock, but there was no reason for that big move higher, and now a drop below $183 means it goes back to $158.
Wells Fargo (WFC)
Wells Fargo is down another 5% today and is probably going back to $26; there is no reason for it not too.
Twilio (TWLO)
Watch out on Twilio a break of $181 means the stock has a lot of room to fall, like a lot. A real lot.
Netflix (NFLX)
So what I am wondering here if Netflix has a giant head and shoulders pattern in it. The neckline is at $405.
Exxon Mobil (XOM)
Exxon is falling today and is trading at $48. I guess I can still get things right once in a while. What’s the saying? Even a broken clock is right two times a day. Premium content from June 8 –Exxon’s Recent Surge May Fade Fast
ok – enjoy
-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.
Subscribe to receive this FREE daily commentary directly in your email
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 Tightening And Volatility Patterns Suggest Risk Ahead
Mott Capital's Market Chronicles 18 hours ago