It will be a big week for stocks, with a lot of economic data that is likely to move markets. The S&P 500 finds itself in at a make or break moment as it nears a level of technical resistance at the upper end of its trading channel. If the S&P 500 futures can’t clear and hold above 3,312, it seems likely we head to 3,150.
S&P 500 E-Mini Futures Daily Chart
Gold
I also happen to think that gold will suffer as well, likely falling to $1,790.
Gold Daily Chart
Netflix
Netflix (NASDAQ:NFLX) appears to be in a megaphone pattern, and that likely means it falls to the lower end of that pattern this week to around $450.
Netflix Inc 1 Hr Chart
Micron Technology
Micron Technology (NASDAQ:MU) will report results this week, and some bearish bets in the options market, indicate the stock falls to around $45.50.
Micron 1 Hr Chart
NVIDIA
NVIDIA (NASDAQ:NVDA) has been flirting with breaking the uptrend for a couple of weeks, and if the market breaks this week, so will NVIDIA, potentially falling to about $460.
NVIDIA 1 Hr Chart
Apple
Apple (NASDAQ:AAPL) is facing stiff resistance at a downtrend too. Perhaps this is the week it finally breaks and falls to $96.
Apple Inc Daily Chart
AT&T
AT&T (NYSE:T) has been falling apart, with its next stop likely at $27.30.
AT&T Inc Hourly Chart
7 Monster Stock Market Predictions For This Week
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
