11 Monster Stock Market Predictions For The Week Of February 25

The calendar for the week of February 25 will be full. FOMC chairman Powell will testify before Congress on Tuesday and Wednesday. On Thursday we get the first read on fourth quarter GDP. The consensus is for 2.4% growth. On Friday we get the PMI Manufacturing Index and ISM Mfg. Index.

GDPNow is tracking the fourth quarter growth at just 1.4%, and the CNBC Rapid Update is following GDP growth at 2.4%.

S&P 500 (SPY)

The S&P 500 will try to push even higher with the first level of resistance coming at 2,798 and then at 2,812.

S&P 500, spy

Russell (IWM)

The Russell has a big test at 1,593. If it can manage to jump above that level of resistance, it opens the door for a rise back to its August highs.

russell, iwm

Technology (XLK)

One reason for the extra optimism on top of the what I pointed out yesterday is that the technology sector broke out on Friday with the XLK rising above $70.40. It clears a path for the ETF to rise towards $72.10

Technology, xlk

Materials (XLB)

The material sector is also nearing a big breakout as measure by the XLB ETF. The ETF is right at resistance at $55.90. A jump above that level sends the ETF up to around $58.

materials, xlb

Home Depot 

Home Depot (HDreports results on Tuesday morning, and the chart looks bullish. For Home Depot a rise above $193.50 sends the stock on towards $203. We can see that the momentum according to RSI is moving into the stock, another sign that stock continues to rise.

home depot


Acadia (ACADwill report results on Tuesday afternoon, and once again it is knocking on the door of a breakout. It would be nice after a horrible year for the shares to finally rise back toward’s the 30’s. The first big test comes at $24. There is a nice uptrend in the equity, and the RSI seems to be trending higher. From a volume standpoint, it looks like most of the heavy lifting was completed at lower levels. A jump above $24 final sends it to $27.

acadia, acad


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Disclosure: Michael Kramer and the clients of Mott Capital own Netflix and Acadia

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's ...

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IB Trading 6 months ago Member's comment

Liked these.