6 Monster Stock Market Predictions For The Week of June 15
The week of June 15 could be another wild one especially with quadruple witching on Friday, here are six predictions to get you started.

6 Monster Stock Market Predictions For The Week of June 15

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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June 14, 2020



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It will be another busy week for stocks with Jay Powell slated to speak before congress on Tuesday and again on Wednesday. We will get some regional Fed data, the Germany ZEW survey, and the weekly jobless claims.

It will be important for the S&P 500 to hold 3,000 to start the week because if the index breaks 3,000 early in the week, it could put a lot of pressure on equities for the entire week. Should the index break 2,950, things could get tricky and result in a fast drop to around 2,860. (premium content – A Massive Week Lies Ahead For The Stock Market)

This week is also options expiration, and the significant open interest levels are at 2,800, 2,900, and 3,000. These significant open interest levels could act as magnets this week, should the markets begin to move lower. Open interest levels thin out after the 3,000 strike price.

Disney (DIS)

Disney broke an uptrend, and I still happen to think investors are underestimating the potential damage that is beginning inflicted on Disney, and that the stock has further to fall. The next significant level of support for the stock comes around $109.

disney, dis

Alphabet (GOOGL)

Alphabet broke the uptrend, and now $1,430 is acting as resistance. The uptrend in the RSI is broken, and that suggests the stock move lowers towards support at $1360.

alphabet, googl

Square (SQ)

Square tested and held the uptrend this week, but the RSI is now moving lower, and that suggests the stock breaks the uptrend and moves lower to $79.

Shopify (SHOP)

Shopify has been losing a lot of momentum in recent days, with an RSI that is steadily trending lower. All it will take is a break of support around $675 to push shares back to $590.

Intel (INTC)

Intel broke its uptrend on the RSI and couldn’t get back above $59.75 last week. It probably means it continues lower towards $55.90.

Anyway, that will be all, have a great Sunday.


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