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1/3/2022
STOCKS – TSLA, QCOM, AMZN
MACRO – SPY
- RTM: Evidence Of Further Economic Slowing
- RTM- Topping Patterns – Video
- RTM First Look: Adobe’s Shares May Have Significant Downside Risk
- RTM: An Illusion
- RTM: RISK-OFF WARNINGS
- RTM: Volatility Remains Elevated As Volume Disappears
- RTM: Volatility Is Likely To Remain Elevated
- RTM: What Comes Next
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA
Tomorrow will mark the start of a lot of economic data, and we should start to get a better sense of how the market feels about this data. We have been in a vacuum of no real news, and the S&P 500 has been hovering around this 4,800 region with minimal movement.
The index was stuck most of the day between 4,780 and 4,785 and made a late-day break back to 4,796. Interestingly, the pattern on the daily candles, starting on December 27, with a green bar, followed by a red bar the next, followed by a green bar, then two red bars, and then a green bar. The same pattern occurred on December 8 through December 16, with a green bar, followed by a red bar, then a green, followed by two red bars, followed by a green. I mention this because the next bar on December 17 was a big red bar lower. Maybe it’s something, maybe it’s nothing, but I noticed it and found it odd and seemed obvious.
Tesla (TSLA)
Today, Tesla was up nearly 14% after reporting more deliverers than expected in the fourth quarter. The company had a great year, and a lot of that good news has been priced in. I’m not sure what takes Tesla to the next level now. The stock appears to be heading for the gap of $1220, which has been open for a while now. Gap fills with this magnitude are very important and will likely give us a sense of the next move.
Qualcomm (QCOM)
Qualcomm has a spacious pattern forming; it looks like a Head And Shoulders pattern. We won’t know for sure until it breaks below $171 or rise above $190.
Amazon (AMZN)
Amazon looks like it is ready to make a big move. It has a wedge forming, with a longer-term uptrend and a shorter-term downtrend meeting. This consolidation could last another few days, but that’s about it; after that, it will have a move one way or another. I’m not guessing what happens.
Have a good evening.
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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