9 Monster Stock Market Predictions On October 31

STOCK MENTIONS: FBWealth Strength IndexAAPL is Extremely Up and trending Up, AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, QRVO, SWKSWealth Strength IndexAAPL is Extremely Up and trending Up, ROKU, DIS, TWTRWealth Strength IndexAAPL is Extremely Up and trending Up

MACRO: SPY, SMH, ECONOMIC DATA

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, SWKSWealth Strength IndexAAPL is Extremely Up and trending Up, AND DIS

PREMIUM CONTENT FOR OCTOBER 31

MACRO

Don’t forget tomorrow is a huge day for economic data, the job report, and ISM PMI

Stocks finished the day lower by about 25 basis points at 3038. But it was much worse than that at one point falling to around 3027, which is essential, because that level is technical support, the previous high, and the breakout. So far, the index held that support and bounced higher from it. That is positive and continues to suggest that the general trend at this point is likely to be higher.

spx, s&p 500

Semis (SMH)

There may be another big move coming for the semis based on the chart of the SMH. Potentially to around $135. There appears to be a bullish flag pattern that has formed. Meanwhile, the RSI is trending higher.

smh, semiconductors

STOCKS

Facebook (FBWealth Strength IndexAAPL is Extremely Up and trending Up)

Anyway, Facebook had a good day. I watch it a lot today, and the stock always managed to find a bounce when it got below $192. Perhaps there is a floor; maybe there isn’t. Tomorrow will be a telling day for Facebook.

facebook, fb

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

Apple had a good day today too. However, there does seem to be a strong level of resistance in the stock now at $250. I’d be careful here, again, I still think the stock is heading lower short-term.

aaple, aapl

Qorvo (QRVO)

Qorvo is skyrocketing after posting solid results and better guidance. It just broke above resistance at $86.50. That should help the SMH and semis tomorrow.

qorvo

Skyworks (SWKSWealth Strength IndexAAPL is Extremely Up and trending Up)

That could be a very big positive for sign Skyworks, which reports next week. The market seems to think the same as I do, with the stock also jumping after hours on Qorvo. An increase above $93.50 sends it back to $100.

skyworks, swks

Roku (ROKU)

I fear for Roku. The stock failed today at $150. It is a big test, break out and rise to $180. If not, it’s going to $135. I think $135 is more likely than $180.

Disney (DIS)

Disney has not been acting well, but maybe a falling wedge pattern has been created. If so, perhaps it pushes back to $132. Not what I thought would happen.

disney, dis

Twitter (TWTRWealth Strength IndexAAPL is Extremely Up and trending Up)

Twitter is failing at $ 30.20, and if can’t get back above that price then the stock could fall to $27.20

roku, roku

Have a good one

-Mike

This article appeared first on Mott Capital Management.

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