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May 25, 2021
STOCKS – ROKU, BA, DIS, GS
MACRO – SPY, IWM, XBI
Mike’s Reading The Markets (RTM) Premium Content – FREE 2-WEEK TRIAL
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- RTM Tactical Update – Lower Stocks And Higher Yields May Be Coming
- Relative Performance Charts 5.21.21
- Webcast Replay
- RTM – Next Week Should Give A Better Sense Of Direction
- RTM Tactical Update – It May Be Time To Look For “Value” Among Growth Stocks
On May 25, the S&P 500 finished lower by around 20 basis points. The key here is that the bulls tried to rally the S&P 500 but were unable to. This seems to confirm that a 5 wave count off the May 19 lows is now complete, and we should see a drawdown back to roughly 4,120.
Russell 2000 (IWM)
It was not a good day for the Russell 2000; after failing to break out yesterday, it fell sharply today. It looks more and more like this index has further to fall from here, as it continues to struggle at the downtrend. I’m looking for roughly 2,120 next.
Biotech ETF (XBI)
The biotech ETF is very weak and is likely to lead the Russell 2000 lower. There is probably a good chance of going back to 115.60.
Boeing (BA)
Boeing looks as if it is getting ready to take its next leg up. The stock appears to take these giant leaps and then move back to the trend line. If that pattern follows suit, it could be a push up to around $295.
Roku (ROKU)
Roku’s little move higher is probably about over. I recounted the pattern, and it seems like we just finished a wave “2”. It works on a fib retracement too. So the next stop could be around $240.
Disney (DIS)
The rally in Disney is likely over, too, with its next stop completing the gap fill at $158.
Goldman (GS)
Goldman is consolidating as all the momentum continues to get sucked out of the equity. Perhaps it finally breaks lower.
-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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