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June 13 – Stocks SPY, IWM, NFLX, AAPL, AMZN, AMD, BYND
Michael Kramer and the clients of Mott Capital own AAPL and NFLX
US Markets
- S&P 500 Futures +9
- US 10-Year Treasury 2.12%
- Oil $52.61
- VIX 15.92
- Dollar Index 96.97
International Markets
- Japan Nikkei -0.46%
- China Shanghai +0.05%
- Hong Kong HSI -0.05%
- South Korea KOSPI -0.27%
- Germany DAX +0.47%
- UK FTSE +0.24%
US Trading for June 13 – A Break Out?
The S&P 500 is pointing to a higher opening for June 13 and potential break out. The chart on the Emini S&P 500 futures is suggesting the S&P 500 is breaking out rising above the downtrend and upper end of the trading channel. It will be necessary for the cash market to confirm this break out to start the day. It at least sets up the opportunity to challenge Tuesday’s highs.
Russell 2000 (IWM)
A higher opening today should help to lift the Russell beyond 1,521 on June 13. See my video from yesterday on why this a break out is so important: 2 Big Indicators To Watch
Netflix (NFLX)
Netflix is pointing to a higher opening. NFLX is starting to license some of its brands for making video games. It certainly could open a new revenue stream for the company. But NFLX has gone nowhere for some time. $360 has been a the upper end of the range lately.
Amazon (AMZN)
Amazon has broken the downtrend and has held support firmly around $1850. The next level to look for in AMZN is $1900.
Apple (AAPL)
Apple is also challenging a break out on June 13, as it rises above resistance at $194.80.
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[youtube-feed feed=7]AMD (AMD)
AMD has been holding support around $32.20, and that will give the AMD a chance to retest to $34.50 on June 13.
Beyond Meat (BYND)
Beyond Meat, I still think this goes back to $100 to start. The cost to shares had a rate of 126% on June 12. Hey, that is better than the 179% on June 10. These things never end well; they don’t. Just say to yourself – “It’s not different this time” repeat as needed.
Have a great one
-Mike
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Charts used with the permission of Bloomberg Finance L.P. 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.