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.
Premium content get the first two-week free- The Stock Market Rally May Be Nearing A Peak
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
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.