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MAY 5, 2020
STOCKS – AAPL, AMZN, CAT, BA
MACRO – SPY, QQQ, TLT
Michael Kramer and the Clients of Mott Capital own AAPL
Mike’s premium content –Â
- Waiting On Data- Midday
- Stocks Falling With Significant Risk – Morning Commentary
- Volatility May Be High With Significant Downside Risk Starting This Week
- Many Signs Point To Lower Equity Prices
Stocks are rising today, with the SPY up about 70 basis points, building on yesterday’s late-day surge. But today is going to be a big day when it comes to economic data, with the service PMI data at 9:45 and the ISM non-manufacturing report.Â
S&P 500 (SPY)
We can see that the S&P 500 futures, for now, are trending higher and trying to recoup some of the loss from late last week, but again the long-term uptrend is broken, and 2,900 is the big resistance level, and 2,800 the significant support level.Â
Nasdaq 100 (QQQ)
The Q’s are approaching resistance, which is the uptrend up for the March lows.Â
10-Year
I will continue to be watching the 10-year yield, and its potential for a move lower towards 0%. A drop in the 10-year would not be a good sign for the bank stocks.
Amazon (AMZN)
Amazon is trying to bounce, holding the uptrend, but that means resistance is at $2,440.Â
Apple (AAPL)
Apple appears to have an ascending triangle, with the next level of resistance around $305.Â
Caterpillar (CAT)
Meanwhile, support for CAT must hold at $107 to avoid a drop to $91.Â
Boeing (BA)
Finally, Boeing appears to be forming a descending triangle, and a potential drop to around $102.Â
-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. Â
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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.