7 Monster Stock Market Predictions For The Week Of May 13

The week of May 13 may not live up to the hype of last week, but it doesn’t mean it may not be as entertaining. Trade tensions are likely to still be in the back of many investors minds, but with no meetings planned between the two countries it can at least begin to make its way out of the headlines. That being said we will need to focus on the Asian markets and how they perform. The markets that continue to be the main focus for me will be South Korea and Hong Kong.

KOSPI (EWY)

The Kospi chart is confusing, to say the least, with double tops and bottoms in at least three places. I want to predict the index rebounds and starts a push back to 2,220. The RSI has a longer-term uptrend, and that would suggest to me the index is not facing a further decline. It is a positive for global growth.

kospi,

Hong Kong (EWH)

Hong Kong also finds itself in a tight spot resting on technical support around 28,160. It would be a bad sign if the index fell below support at that level because then the HSI would likely fall further to 27,345.

hong kong, hsi

S&P 500 (SPY)

The S&P 500 had a big end of day rally on Friday. We can see that the S&P 500 had a nice retest of the lows on Thursday, and the only thing standing in the way of the index continuing to rally is resistance around 2895. Should resistance be broken it sets up an increase to around 2,915.

S&P 500 , spy

NASDAQ (QQQ)

The NASDAQ was able to fill the same gap on its chart as the S&P 500, from April 1. The NASDAQ closed right at resistance at 7,917. The RSI is trending nicely higher and suggesting that the index continues to rise.

nasdaq, ixic

Apple (AAPL)

Apple managed to survive the week holding both an uptrend and support at roughly $194.50. The big test comes Monday and if can manage to move back above $198. If that happens, it can help to push the stock higher towards $209.

aapl, apple

Amazon (AMZN)

Amazon held support around $1,850 this past week, and if it can move above $1,900 again, it has a chance to start trending higher back towards $2,000.

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Disclosure: Michael Kramer and the clients of Mott Capital own Apple, Alphabet, Disney, Netflix

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

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