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Michael Kramer and the clients of Mott Capital own Apple, Mastercard, and Netflix
Michael Kramer owns IWM Calls
Stocks continue to roll, for how much longer and how much further is the question on everyone’s mind. The S&P 500 set a new intraday record rising above 2,940.
S&P 500 (SPY)
The S&P 500 continues to rise in a friendly channel at this point. I’m not sure what’s going to keep it from rising further. I have shown you all the charts and all the data points. I know markets don’t rise in a straight line, but for now, I do not see any clues to suggests otherwise, at least not in the short-term.
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Russell 2000 (IWM)
The Russell appears to have broken out rising above 1,594, and then 1,600. I think that sends the Russell up to around 1,640.
Financials (XLF)
The financials continue to rise, and the XLF is breaking out and maybe running higher towards $28.75. I’m thinking that perhaps the financials are sending us a message about an improving economy.
Bank of America (BAC)
BofA may be on is its way to $31.85.
Apple (AAPL)
Apple reports results tomorrow at the end of the day, and the chart continues to look very strong, with the potential for a break out above $209. There may be a rising triangle pattern forming. It today’s video, I talk about how Apple is becoming a consumer products company, and it’s about more than just services, and how it may lead to multiple expansion. Apple Is All About Services And Wearables
Intel (INTC)
Intel’s problems continue with the stock falling below support at $52.50. I had hoped there’d be a bounce today –wrong. Now the next level of support doesn’t come until $50.60.
Netflix (NFLX)
Netflix continues to flirt with a breakout but seems to be stuck in this slow grind higher. $378 is still posing as a problem for the stock.
Mastercard (MA)
Mastercard continues to grind higher, and the company reports results tomorrow before the open. The stock appears to have a date with $253.
Facebook (FB)
Facebook is testing resistance at $194; it could lead to a move towards $204.
Night!
-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.
Volatility Crush Sends Stocks Higher Even As Oil And Rates Surge
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