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Subscribe →September 21, 2020
STOCKS – AAPL, SQ, MSFT, DOCU
Macro – SPY, QQQ, GLD, DXY
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- 10 THEMES FOR THE WEEK OF SEPTEMBER 21
- Nvidia May Drop 15% More
- Tech And Market Breaking
- Stocks Looking To Bounce, But Bear Case Grows Stronger
- Salesforce Has A Big Gap Lower To Fill
- Markets Are In A Dangerous Spot
- Big Cap Technology Breaking Down
- Apple’s Stock Declines May Only Be Starting
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN MSFT AND AAPL
Free video of the week:
https://youtu.be/3icwvX-0eK8
Stocks are getting smashed to start the week off, reversing the typical Monday gap higher routine. It isn’t just here in the US; it is around the globe today. Germany and the UK are both trading lower by over 3%. The S&P 500 futures are now trading below that critical level of support mentioned yesterday in the 9 Themes for the week video.
S&P 500 (SPY)
The S&P 500 ETF is also trading support at 329.40 and is heading towards its next level of support around $323.60.
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NASDAQ 100 (QQQ)
Meanwhile, the Qs are trading well below support at $264 and challenging the lows from Friday.
Dollar (DXY)
The dollar is also getting ready for its massive break out to come as it completes that bull flag pattern.
Gold (GLD)
Gold is also falling this morning and is getting very close to breaking support at $1925.
Financials (XLF)
The financials are breaking down today, with the XLF falling below $24.20, and that significant uptrend we have been watching closely.
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Square (SQ)
Square is trading down by 3% pre-market and is breaking that significant uptrend we have tracked. The next stop on this one is probably around $118.
Apple (AAPL)
Apple is now filling the gap trading around $104, which means the next stop is likely to come at $96.
DocuSign (DOCU)
DocuSign is just waiting to break that support level at $191, and I’m eager to see it happen, with the next stop at $160.
Microsoft (MSFT)
Microsoft is falling below support at $198.25, with the next significant level around $187.
Have a good 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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