8 Monster Stock Market Predictions For The Week Of December 16

Stocks are on a path higher, with the S&P 500 rising to close at a record high this week at 3,169. The patterns in the chart suggest the market continues to climb this week, heading towards 3,200.

S&P 500, spx

Dollar Index

The dollar index should be on everyone’s watch list this week. The index fell below uptrend, and is testing support 96.50. A drop below 96.50 can really get the dollar moving lower towards 94. One should not underestimate the power the dollar has to move commodity prices and to stock inflationary forces. I talk a lot more about the dollar in this video segment from Friday. What A Weakening Dollar In 2020 Means For Investors

dollar index, dollar

Freeport

Freeport (FCX) is one stock to keep on your radar if the dollar weakens this week. The stock is testing resistance at $13.20 and could be on its way to $13.80. I was seeing bullish betting in the stock earlier this week, but that was around $12.80. Then again, I have been seeing bullish betting in the stock since September 6, when the stock was only $9.50. See also Why Freeport And Copper May Be Heading Higher.

Freeport, fcx

Netflix 

Netflix (NFLX) has a bullish uptrend that has formed, and I have recently seen some bullish options betting that suggests the stock rises to around $316.

netflix, nflx

Amazon

Amazon (AMZN) also appears to be showing some bullish trends as well, along with bullish options betting. It suggests the stock finally pushes up to around $1840 for starters. See also Amazon Is Seeing Bullish Betting, Suggesting 7% Increase.

amzn, amazon

Acadia

It looks like the lazy trader or the “set it and forget it” algo, have been cleaned up in Acadia (ACAD). Now the stock appears to be forming a double bottom and will likely push higher once again towards $48. I love it when people email me to tell me how the CEO sold some stock. Big deal. He acquired 150,000 for $19.65 and sold them around $52, can you blame him?! Not to mention, it was part of a 10b5-1 plan that was instituted on August 22. The guy only owned 1.4 million shares in April, when they filed the proxy statement. There have been a whole bunch of insider sales recently, all part of 10b5-1 plans. 

1 2
View single page >> |

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when the market changes. I am not right all the time and I do not expect to be. I ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.