Subscribe to receive this FREE daily commentary directly in your email
September 15, 2020
STOCKS – ROKU, NFLX, AAPL, SQ
Macro – SPY, QQQ
Mike’s Reading The Markets (RTM) Premium Content – NOW WITH A 2 WEEK FREE TRIAL
- A Downtrend Is Born
- Gap Higher, Fill Lower? Morning
- 9 Themes For The Week Of September 14
- Sell-Off Has Much Further To Go
- My Portfolio Breakdown -Entry Spots
- When Adjusting For Growth The S&P 500 Is It Most Expensive In 40 Years
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL
Stocks are trading mostly higher this morning with the S&P 500 ETF (SPY) up by 70 bps, which is taking the ETF to around $340, that was around the highs yesterday. With the Fed meeting today and quadruple witching on Friday, it makes things a bit more volatile, and it is likely to stay that way until we get passed Friday.
At this point, we will have to see if the downtrend is broken, and we may not know until days end. We may find out that downtrend may prove to be short-lived. The significant level to watch for comes around $342.25, and that was the highs last Thursday.
Meanwhile, the Qs are rising, testing significant levels of resistance around the $278 level.
Roku (ROKU)
Roku is rising after KeyBanc initiated the stock with an overweight rating and $228 price. There is a nice uptrend that has formed in Roku, which suggests the stock continue higher towards $175.
Netflix (NFLX)
Netflix was also rated an overweight with a $590 strike price from KeyBanc. But this one already broke its uptrend and had been struggling of late. The stock has been able to hang on to the $475 level for some time. Eventually, I think it breaks that support level and heads lower towards $450.
Apple (AAPL)
Today Apple will host a product event, but it is not expected to have a new iPhone as part of it. The stock has struggled in the $115 to $117 region the last couple of times it has reached this region. We will see if today’s event can key lead to a breakout, or if the stock continues to struggle.
Square (SQ)
Square has held the uptrend for now with the potential for the stock to bounce back to around $150.
That’s all
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.
CTA And Volatility Funds Poised To Drive Market Pullback
Mott Capital's Market Chronicles October 10, 2025 2:00 PM