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July 17, 2020
STOCKS – NFLX, FB, AAPL, MSFT
MACRO – SPY
Mike Reading The Markets Premium Content – $35/Month or $300/Year
- AMD May Be Ready For A 10% Drop
- Amazon Traders Betting Shares Plunge Following Results
- Bearish Bets In Nvidia Continue
- SPY VS QQQ – NEED TO KNOW
- Nasdaq 100 Facing More Losses – Morning
- Bearish Betting Persist For NVIDIA
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN MSFT AND AAPL
Stocks had a dull day, with the Qs rising by 12 bps, and the S&P 500 increasing by almost 30 bps. The market tried to rally into the end of the day, but the buyers vanished into the close.Â
The VIX was slammed today; I’m not sure if it was because of options expiration and open puts rolling off or what. But the way the VIX fell, you have thought the S&P 500 was up a lot today. But it wasn’t. It was at its lowest level since the beginning of June.Â
The good news for the bulls is that copper continues to hold the uptrend, and that is very important for the risk-on trade.Â
For now, it looks like Netflix failed at resistance around $495. I still think that this stock is going lower, with the next stop at $475.
Apple needs to be on watch next week as the stock quickly approaches its uptrend.Â
Microsoft already broke one of its uptrends, as part of the bearish bump and run pattern. The next level to watch comes at $198.Â
It looks likes Facebook will be going nowhere anytime soon. The RSI is just declining, and that means either the stock goes sideways or down. But the run-up for now is likely finished.Â
Have a good one.Â
-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.