This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
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September 19 – Stock mentions: SPY, MSFT, SQ, NVDA, DIS, AAPL
Michael Kramer and the clients of Mott Capital own AAPL, DIS, MSFT
S&P 500 (SPY)
Stocks tried to rally today but failed to maintain that momentum. Maybe it was all part of a dragged-out, all-day, gap-filling process. Tomorrow will be more telling. I would like the S&P 500 to make a new high here; the worst case would be for it to fall short and scream of a market that is “long in the tooth,” a phrase I hate, or an “aging bull market,” another phrase I can’t stand.
The other big overhang that still looms for stocks is what will twitter bring. With the market near an all-time high, the President generally pushes his agenda a little bit harder, hitting on a region of the world with a new round of tariffs. He just got a Fed rate cut, and the S&P 500 is basically at its all-time high.
We know the drill.
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Microsoft did manage to finish towards its highs, but really we need to see the stock move over $142.
It is not looking good for Square; the stock still can’t get over resistance at $60.70, usually, a sign of stock heading lower.
Nvidia is on very shaky ground finishing right near support and right on the uptrend. Tomorrow will be a make or break moment.
I’m not sure why Disney fell today, I didn’t see anything. Now $132.50 become a significant support level for the stock.
Apple is starting to form what appears to be a symmetrical triangle which in this case should be bullish, leading to an Apple break out.
Have a great night
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