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MAY 19, 2020
STOCKS – AAPL, AMZN, NVDA, WMT
MACRO – SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL
Don’t forget Powell and Mnuchin are live today, together, at 10 am.
Stocks are falling this morning, at least for now. They had been up sharply overnight but reversed lower.
Germany
The reversal took place all across Europe as well, after the German DAX topped out its April 29 highs.
FTSE 100
Interestingly you are seeing the same thing occurring in the FTSE 100 this morning.
S&P 500 (SPY)
Meanwhile, you can see the same pattern in the S&P 500 ETF SPY. So if you are bull, you need the index to push higher to keep this from turning into something the bears would like, a successful retest of the breakdown in the rising wedge pattern, and lower prices. Again, I reviewed this in a premium video yesterday. 3100 Or Bust – Quite Literally
Walmart (WMT)
Walmart reported strong first quarter results, and that is helping to lift the markets with the stock up over 4%. I don’t have much here to add at this point, other than $132-133 region is level of strong resistance.
Regardless the only thing that continues to matter is the performance of the big five stocks since they account for 40% of the NASDAQ 100 and 20% of the S&P 500. So how they are performing today will matter much. Again, each of these five stocks continues to lie in precarious spots, all with negative trends.
Amazon (AMZN)
Amazon appears to be the one that has struggled the most, with share just trading sideways since April 16.
Apple (AAPL)
Meanwhile, I still think Apple is at considerable risk of falling back to $265.
I go through all the others in a free video I did over the weekend, in case you didn’t get to see it.
Nvidia (NVDA)
Nvidia is no small fry in the indexes either, and they report results on May 21. So given the massive move higher, one would think they are just going to crush it and must have something speculator to say about future quarters. That would come in total contrast to what AMD and Intel had to say, but who are AMD and Intel, other than Nvidia peers. Still, the stock is trading at an all-time high, so who I am to doubt the collective minds of the matrix, I mean the market.
Anyway, good luck today…
-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.
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