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Lock in sale →September 18, 2020
STOCKS – AMZN, AAPL, NVDA, CRM
Macro – SPY, QQQ,
Mike’s Reading The Markets (RTM) Premium Content – NOW WITH A 2 WEEK FREE TRIAL
- Live Webcast September 24 9PM ET
- 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 AAPL
Stocks didn’t have the greatest finish to the week, with the S&P 500 falling by around 1% while the NASDAQ 100 fell by 1.3%. At this point, the concern should be building that this decline is more than just a mild pullback, as the S&P 500 broke the 50-day moving average today. It is the same moving average we focused on yesterday.
S&P 500 (SPY)
The level at 3,330 was vital because it acted as a healthy level of resistance when the index was rising, and that level, which became support, has now broken. It shall likely act as strong resistance once again.
Navigating The Market · By Michael Kramer Independent macro and options research, published every trading day. Daily written analysis covering gamma exposure, dealer flows, key levels, and the macro drivers moving markets. Includes full video access. Recent Subscriber Analysis
NASDAQ 100 (QQQ)
Meanwhile, the Qs went on to make a new low, at around $262.
Amazon (AMZN)
Amazon fell again today, and I fear this one is not finished fall yet. The only thing standing in its way and 2,800 is 2,950. Once 2950 goes, it is on to 2,800. The bigger problem is that 2,800 may not be the bottom. The stock hasn’t even reached oversold levels yet. (Premium content from August 26 – An Amazon Drop May Be Coming)
Apple (AAPL)
Apple also fell today, below $109, and that is likely bad news for the stock, as I continue to believe this one is heading to $96. (Premium Content – Apple’s Stock Declines May Only Be Starting)
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Salesforce (CRM)
Salesforce is hanging on by a thread from falling to around $219. (Premium content – Salesforce Has A Big Gap Lower To Fill)
Nvidia (NVDA)
Nvidia is on the cusp of a significant breakdown if that uptrend goes, with $427 potentially on the way. (Premium content – Nvidia May Drop 15% More)
That’s going to be all for a Friday; see you over the weekend!
-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.
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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