25 Monster Stock Market Predictions For The Week Of Feb. 18

The week of February 18 will be a short week with the stock market closed on Monday. This week will be a showdown between the bulls and bears as several key indexes approach significant levels of resistance which will ultimately decide if stocks continue to advance or decline.

S&P 500 (SPY)

The S&P 500 will be the first major index to watch as it approaches a resistance zone of 2,795 to 2,810. I continue to adjust the region because there is a lot of congestion in that area. It makes the region a potentially challenging zone. But an increase above 2,810 clears a path to 2,872.  The S&P 500 Is Racing To 3,000 and Beyond in 2019

Again, I continue to grow more confident that stocks can rise above this level of resistance.
 

S&P 500, spx

Russell 2000 (IWM)

The Russell is the second major index that requires watching because if it can manage to rise above 1,593 a path opens to 1,710.

russell

Housing (HGX)

The housing sector (HGX) is approaching a key region of resistance around 295. A rise above that level pushes the index on to 315.

housing, hgx

Biotech (XBI)

The biotech sector cleared a critical level of resistance at $85.25, and now there is a path to rise to nearly $90.
 

Biotech, xbi

Industrials (XLI)

The industrial ETF is breaking out at $75.50 and it could be on its way to $78.

industrial

Banks (BKX)

The banks also broke out and are rising towards 103 on the BKX.

bkx,banks

Oil

Oil appears to be on is its way to $57.50 and perhaps $61.70.

oil,

Copper (CU)

Copper is trying to break out at $2.81 and could be on its way to $2.90.

copper

Apple (AAPL)

Apple’s consolidation looks to be nearly complete and may be on the move to $182.So did Buffett buy Apple or sell Apple in the fourth quarter? You better read those filing and see for yourself.13G/13F which is it?

apple, aapl

Square (SQ)

Square is still looking strong and like it can head up to $83.

sq, square

Roku (ROKU)

Roku continues to defy all logic and continues to climb. That valuation is getting steeper. But the Algo’s see the giant gap up at $56 that needs to filled, and that is where it is likely going.

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Disclosure:  Michael Kramer owns XBI March $87 Calls. Michael and the clients of Mott Capital own Apple and NXP

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

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