Stocks Manage to Push To Close At Record Highs On July 1
Rider at 2006 Russian River Rodeo, Duncans Mills, California

Stocks Manage to Push To Close At Record Highs On July 1

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July 1 – Stock Mentions: SPY, IWM, MU, ROKU, AMZN, NFLX, BABA

Michael Kramer and the clients of Mott Capital own NFLX

Michael Kramer owns IWM CALLS

Stocks had a nice on July 1 after they went through the usual routine of gapping higher, drifting lower, and then rising into the close. It seems to be a pattern that continually repeats itself.

S&P 500 (SPY)

The good news is that the S&P 500 held support at 2,950 on its first attempt. I expect that level will continue to hold in the future. I do believe that the S&P 500 is set up for a rise to around 3,300 by some time this fall. I get into more in a premium video but will have details later this week.  (See premium content: The Race To S&P 500 3,300 Is On!)

S&p 500, spx

Russell (IWM)

We can see the same thing happened in the Russell 2000 chart as well. It is always very good to know the forces we are up against.

russell, 2000

Micron (MU)

Micron had a good July, but like the broader market, it too pulled back. MU has risen a lot recently. MU managed to close below resistance at $40.25 after breaking above it earlier in the day. That could be a bearish sign which suggests the stock declines.

micron, mu

Roku (ROKU)

Roku managed to open the day right at resistance, but we stopped in its track. Further evidence that ROKU is likely to head lower.

roku, roku

Alibaba (BABA)

Alibaba managed to hang on to its gains and is trending higher towards $182.

alibaba, babaf

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Amazon (AMZN)

Amazon seems it is getting ready to take its next leg higher, but it is likely a few days until that happens.

amazn, amzn

Netflix (NFLX)

Netflix is inching closer to a break out at $379. It seems to be coming.

nflx, netflxi, stock july 1

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.

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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.