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MAY 6, 2020
STOCKS – GE, BA, F, NVDA
MACRO- SPY, QQQ,
MIKE READING THE MARKETS PREMIUM CONTENT –
Gap Fills Nearly Complete, Watch For Reversals
Getting Ready For Big Data Day – Morning Commentary
Stocks are pointing to a higher opening on May 6, ahead of the ADP private payroll report. Estimates are showing 20 million people lost their jobs in April. So we will wait to see what the damage was and then look forward to the initial claims on Thursday, and the BLS job report on Friday.
Still, you are seeing S&P 500 Futures and the SPY ETF rising this morning ahead of this employment report, up about about 50 basis points. For the $288.50 remains a level of resistance, and I will be curious to see if this little rally today can last.
NASDAQ (QQQ)
At this point, the Q’s are also rising but not advancing beyond yesterday’s highs, at least not yet.
Boeing (BA)
Boeing is getting closer and closer to completing that descending triangle and a drop to $102.
Ford (F)
The technical pattern in Ford doesn’t look particularly attractive. I’m not sure if you are want to call it a falling bear pennant or not, but I’d careful and watch for a further decline.
Nvidia (NVDA)
Nvidia has stopped rising now around $300 four times. This is a significant level to watch for Nvidia, with a break out send shares sharply higher, or of course the opposite, which sends the stock sharply lower.
GE (GE)
GE has a scary chart with a descending triangle forming, which suggests the stock falls back to the lows around $5.50.
Have a good one
-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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