Subscribe to receive this FREE daily commentary directly in your email
MAY 26, 2020
STOCKS – UNP, BA, JPM
MACRO – SPY, QQQ, EWG, XLP
MIKE’S READING THE MARKET PREMIUM CONTENT –
- Global Rally On May 25
- Earnings Trends For 5.22.20
- Testing Resistance – Midday 5.22.20
- Fillin’ Gaps To Start The Day – Morning Commentary
- Naz Uptrend Breaks, Midday
- Watch 2 Key Levels – Morning Commentary 5.21.20
S&P 500 (SPY)
Stocks are rising here in the US on Tuesday, playing a bit of catch up to a rally around the world on Monday. The S&P 500 ETF SPY is trading just a little bit above the $300 level to start the day, which takes us back to the highest level since March 6. At least at this point, it puts the next significant level of resistance for the ETF around $306. Whether or not the rally can continue from here is anyone’s guess? As I have pointed out, the market doesn’t have a strong economy or robust earnings growth on the table, in 2020 or 2021. So yes, the market is a discounting mechanism towards future growth, but maybe, in this case, it is for 2022.
NASDAQ 100 – QQQ
The Qs are butting right up against the upper end of its trading range, with a strong level of resistance around $235.
Germany (EWG)
The German DAX had a big day on Monday and has now filled a gap up at 11,570. I guess the one thing that is interesting here is volume levels have been dropping off in this market.
Boeing (BA)
Boeing finally broke out of its trading channel to the upside, with its next significant level of resistance not until $158.
Union Pacific (UNP)
Union Pacific is a significant industrial stock and could also help to lead the group along with Boeing. It has a big level of resistance to get through first, which could send it to around $179.
Staples (XLP)
Staples haven’t been a great group, but one has to wonder if the XLP ETF is finally breaking out of a bull flag, with the potential to rise to around $61.
JPMorgan (JPM)
JPMorgan is rising some today and has room to rise to a downtrend around $94.25.
That will be all
-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.
Subscribe to receive this FREE daily commentary directly in your email
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.
Rising Inflation Signals And Tariff Uncertainty Set Stage For Volatile Summer
Mott Capital's Market Chronicles July 11, 2025 12:32 PM