9 Monster Stock Market Predictions For The Week Of January 21

It will be a short trading week with Monday closed for Martin Luther King Jr. day. It will also be a relatively light week for economic data in the U.S.. with the Markit Manufacturing and Services PMI’s on Thursday.

S&P 500 (SP500, SPX)

The S&P 500 is approaching a significant level of technical resistance and downtrend at 2,690. If the index can manage to rise above that level, it likely triggers a much bigger rally, perhaps to 2,800.

spx, sp500, S&P 500

NASDAQ (IXIC)

The Nasdaq has already risen above its downtrend and is likely a positive sign that index can continue to increase. Additionally, it is likely to serve as a positive sign for the S&P 500.

spx, sp500, S&P 500

Tech Sector (XLK)

The technology ETF (XLK) is also nearing a potentially big break out at $65.50.

technology, xlk

Consumer and Industrials (XLY, XLI)

The consumer discretionary ETF (XLY) is also breaking out, as it the industrial ETF (XLI)

industrial and discretionary, xli, xly

Microsoft (MSFT)

Microsoft has been steadily rising and may be on its way to around $112. The RSI is also nearing a potential break out, which could be a positive sign for the long-term uptrend in the stock.

msft, microsoft

Apple (AAPL)

Apple has risen above a critical level of resistance at $155, and should it manage to rise above $163; it has room to move up to $182.

Apple, aapl

Amazon (AMZN)

Amazon is the largest stock in the consumer discretionary sector, and the big hurdle for Amazon doesn’t come until $1,770.

amazon, amzn

Netflix (NFLX)

Netflix successfully refilled a gap at $335, and it held firm on Friday. If the stock falls below $335, it could drop to around $329. But it seems more likely the stock retest resistance at $355 and moves on to $380.

netflix, nflx

Tesla (TSLA)

Tesla fell hard on Friday following some less than clear news about its fourth quarter profit. But then again, it doesn’t take much for the short-sellers to get into motion. $300 has been a significant level in the past; I don’t see any reason the stock can’t continue to hold support at $300.

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

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

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