7 Monster Stock Market Predictions For The Week Of July 6

It will be a typical trading week, and the only thing that matters for the S&P 500 (SPY) 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.

Banks

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

Square 

Square (SQ) 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 

Disney (DIS) 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

Eli Lilly  (LLY) 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 

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

Marvell 

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

Disclosure: Mott Capital Management, LLC is a registered investment adviser. Information ...

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