25 Monster Stock Market Predictions For The Week of February 18

The week of February 18 will be a short week with the stock market closed on Monday. This week will be a showdown between the bulls and bears as several key indexes approach significant levels of resistance which will ultimately decide if stocks continue to advance or decline.

S&P 500 (SPY)

The S&P 500 will be the first major index to watch as it approaches a resistance zone of 2,795 to 2,810. I continue to adjust the region because there is a lot of congestion in that area. It makes the region a potentially challenging zone. But an increase above 2,810 clears a path to 2,872.  The S&P 500 Is Racing To 3,000 and Beyond in 2019

Again, I continue to grow more confident that stocks can rise above this level of resistance.

S&P 500, spx

Russell 2000 (IWM)

The Russell is the second major index that requires watching because if it can manage to rise above 1,593 a path opens to 1,710.

russell

Housing (HGX)

The housing sector (HGX) is approaching a key region of resistance around 295. A rise above that level pushes the index on to 315.

housing, hgx

Biotech (XBI)

The biotech sector cleared a critical level of resistance at $85.25, and now there is a path to rise to nearly $90.

Biotech, xbi

Industrials (XLI)

The industrial ETF is breaking out at $75.50 and it could be on its way to $78.

industrial

Banks (BKX)

The banks also broke out and are rising towards 103 on the BKX.
bkx,banks

Oil

Oil appears to be on is its way to $57.50 and perhaps $61.70.

oil,

Copper

Copper is trying to break out at $2.81 and could be on its way to $2.90.

copper

Apple (AAPLWealth Strength IndexAAPL is Extremely Up and trending Up)

Apple’s consolidation looks to be nearly complete and may be on the move to $182.  So did Buffett buy Apple or sell Apple in the fourth quarter? You better read those filing and see for yourself.  13G/13F which is it?

apple, aapl

Square (SQ)

Square is still looking strong and like it can head up to $83.

sq, square

Roku

Roku continues to defy all logic and continues to climb. That valuation is getting steeper. But the Algo’s see the giant gap up at $56 that needs to filled, and that is where it is likely going.

roku,

Blackberry (BB)

Blackberry hit resistance at $8.70, and now it can go on to $8.90, the last test before heading to $9.70.

blackberry

Micron (MUWealth Strength IndexMU is Extremely Up and trending Up)

Micron continues to power higher, and $45 is looking more and more likely.

micron, mu

Intel (INTCWealth Strength IndexINTC is Extremely Up and trending Up)

Look at Intel go, next stop $52.50.

intel, intc

NXPIWealth Strength IndexNXPI is Moderately Flat and trending Up

NXPIWealth Strength IndexNXPI is Moderately Flat and trending Up is nearing a big break out at$95, with the next stop around $106.

nxpi

Amazon (AMZNWealth Strength IndexAMZN is Moderately Flat and trending Up)

Amazon is going the other way, and that means it is likely to continue to fall towards $1520.

amazon, amzn

Nvidia (NVDAWealth Strength IndexNVDA is Extremely Up and trending Up)

I think Nvidia falls towards $139 this week, with a path to $104! Yikes

nvidia, nvda

Chipolte (CMG)

Chipotle has been frozen at $605 and could be on its way back to $560.

cmg

Align (ALGN)

Align is another stock filling the gap and is probably going back to $290.

align

Facebook (FBWealth Strength IndexFB is Moderately Flat and trending Up)

Facebook may be working to fill that gap at 148, but first, it has to fall to $157.

facebook, fb

AMD

If AMD can get over $24, then it may rise to $25.70.

amd

Cisco (CSCOWealth Strength IndexCSCO is Moderately Flat and trending Up)

Cisco looks like it is on a path towards $55.

cisco, csco

Have a great President Day!

-Mike

This article first appeared on Mott Capital.