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August 5, 2021
STOCKS – CRM, UBER, UPS
MACRO – SPY, XLF
Mike’s Reading The Markets (RTM) Premium Content – FREE 2-WEEK TRIAL
- RTM – Holding Steady Into The BLS Report
- RTM – From Bad To Worse
- RTM – Trends Remain Bearish For Now
- RTM Short-Term Bullish Trade Idea- Comcast
- RTM Video – Exploring ISRG And SYK
- RTM- ISM Report Is Pushing Yields And Spreads Lower
- RTM Tactical Update – The Equity Market Appears To Be On A Path Similar To 2018
- RTM- Earnings Trends Have Not Improved Despite Big Beats
- RTM -Amazon May Be An On Going Concern
Stocks increased on August 5 ahead of the BLS Job report. Over the past three months, the index has rallied sharply on the BLS job report. Maybe that changes tomorrow? So it seems logical that some are trying to front tomorrow’s report. The S&P was stuck all day at resistance around 4,420, and in the final 30 minutes, made a fairly big push higher once resistance was cleared.
Financials (XLF)
Most of the action today came from the XLF, with the ETF climbing by 1.3%. To close back at resistance around $37. The big IF here is if the banks can rise and push higher from here. They are trying, but rates are going to need to rise, and spreads widen for that to happen. To this point, yields are not really changing much. Tomorrow could change that.
UPS (UPS)
UPS has stopped falling at support around $188. For the stock to have come this far and not fill the gap at $178 seems odd. You’d think that gap would get filled before any attempt to push higher again. 
Salesforce (CRM)
Salesforce is very close to breaking resistance at $250. The stock has been trying to break higher for months. It might finally happen, with a room to run up to around $265.
Uber (UBER)
Maybe Uber has finally bottomed, the stock made a lower low, but the RSI did not. That can, at times, indicate a reversal of a trend. Things may start getting better for Uber.
-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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