July 23, 2020
Stocks – MSFT, TSLA, FB
Macro – SPY,
Mike Reading The Markets Premium Content – $35/Month or $300/Year
- AMD Breakout, Markets Holding – Midday
- Index At Razor Thin Levels – Morning
- Nothing Makes Sense Anymore
- Still Buying Puts On The Markets
- A Decpitive Bull Run – Morning
- Stocks Just Keep Going – Midday
- Bullish Betting Returns To GE
- Waiting On Key Vaccine Data – Morning
- AMD May Be Ready For A 10% Drop
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA, MSFT
Stocks are rising a bit today, picking up where they finished yesterday. The SPY continues to hold its uptrend with its next level of resistance around $329.40. So until that uptrend breaks, it seems that the SPY will continue to trend higher towards that next level of resistance around $329.40.
Microsoft is falling today, after results. It seems from reading some commentary that analysts noted the slowing cloud growth. In my opinion, it is tough to know if the slow down in cloud growth is because of a business trend, or an impact from the macro conditions. Longer-term, I think Microsoft is fine. Short-term, the stock could pull back to around $200.
Tesla shares are bouncing around today, as the stock gets some mixed reviews. Again, I think the results were fine and remain on the right track. The stock is stalling a bit around the $1700, but the trend remains higher for now, and it could be creating a bullish ascending triangle.
Facebook continues to move sideways, and I think it will continue to move sideways until we get earnings.
Anyway, that is all for now.
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