7 Monster Stock Market Predictions For The Week of July 7

7 Monster Stock Market Predictions For The Week of July 7

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.

Otherwise, enjoy the column!

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July 5, 2020



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S&P 500 (SPY)

It will be a typical trading week, and the only thing that matters for the S&P 500 is if the futures can push beyond that 3,150 level. Including Thursday, the S&P 500 futures have failed at 3,150 level six times. It is an adamant level of resistance, and the longer that region remains strong, the more likely it is that the S&P 500 continues its trend lower since peaking in early June.

The uptrend that formed in early April is now broken, and that uptrend is now resistance too. Premium content – 3 Keys To The Week Of July 6

Banks (BKX)

The BKX bank index may be heading lower with a descending triangle pattern that formed and the potential to drop to around $68.

Square (SQ)

Square has seen a massive move higher in recent weeks, and the stock had been able to stay nicely in an uptrend but is now forming a bearish bump and run pattern. A break of the second uptrend sends the shares back to $102. Meanwhile, I saw some bearish betting in this Stock on Friday that indicate a steeper drop by mid-August. Premium content – Special First Two Weeks Free 4th of July special – Square May Drop By As Much As 20%

Disney (DIS)

Disney has been trending lower in recent weeks, and I expect that the trend lower will continue with the potential for shares to fall to $99 eventually. Premium content – Disney Shares May Plunge By Up To 14%

Eli Lilly (LLY)

Eli Lilly looks healthy and has been climbing in an ascending triangle, with the potential to break out and increase to $177. The RSI has even turned bullish.

Nokia (NOK)

Nokia’s chart is looking bullish with a potential ascending triangle and gap to fill up to $5.10.

Marvell (MRVL)

Marvell also looks bullish with a bull pennant and potential for shares to rise back to $37.

Have a great Sunday!


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