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Wk34: Mkt Forecast

23 Aug

Lots of news this week beginning on Tuesday with Existing Home sales and ending with GDP will make for a nice week of trading. During times of rotation as we saw over the past two weeks the markets can be extremely whipsaw like and almost untradeable at times. It is perfectly okay to be on the sidelines during these times, patiently waiting for the next trade. Refer to our post on trading like a cheetah. We’re Looking for a rally this week. If it is sold into, look for a big move lower. If we break prior swing highs, then the rally will continue.

Wk31: Market Forecast

2 Aug

The S&P is at a great level to put on positions, both to the long and short side. It is not clear yet whether we have double topped, or if this is the stat of an uptrend. Both have developed, but neither has broken out to confirm its trend. In situations like this it’s best to start the week delta neutral and add/subtract positions as the week progresses.

Our unfilled targets on the S&P are still $1122.


News announcements for the week…

Wk30: Market Forecast

26 Jul

In the week ahead look for these news announcements to act as potential market movers
Multiple indicators and price patterns signal higher on a broader timeframe. The inverted head and shoulders has a target of S&P 1200, with the daily ambush long shorter term target of 1122. There is a lot of economic news this week so we should have plenty of intraday setups.

Wk29: Market Forecast

19 Jul

In the week ahead look for these news announcements to act as potential market movers
While economic news is light, we are in the thick of earnings season so expect wild price action and a lot of opening gaps. Remember, gaps tend to fill so fading the opening move is typically the first trade of the morning from an intraday perspective. We are expecting some sideways action, but will be watching out for a potential reversal forming a higher low. It is still possible to break lows on the year.

Wk26: Market Forecast

28 Jun

In the week ahead look for these news announcements to act as potential market movers
The pattern we see forming is a Double Bottom Pullback. Keep in mind that the opposition to any pattern is a violent move ie: if a bullish pattern fails, a violent move to the downside tends to prevail because all the people that were getting long are forced to exit rapidly via market orders. Later this week volume will start to lighten up and next week we will not be trading as volume will be extremely thin.

Wk25: Market Forecast

21 Jun

In the week ahead look for these news announcements to act as potential market movers
The Fed will release their FOMC Minutes Wednesday so expect a volitale intraday session in the morning of 6/23. Friday’s GDP could send the market sailing up or down so we are positioning delta neutral early in the week.

We are trading at all the way halfway back from highs to lows. $1148 on the S&P is the line in the sand, bullish above cautiously bearish below.

Wk24: Market Forecast

14 Jun

In the week ahead look for these news announcements to act as potential market movers…
A close above the 20-EMA would be extremely pivotal. We remain delta neutral until this happens and still have our downside target on the S&P of $1005. Only if we break above $122 will we see this target not being reached.

Wk22: Market Forecast

31 May

In the week ahead look for these news announcements to act as potential market movers
This week is sure to shed some light on the next longer term move. If we continue to sell off, massive panic could ensue, however I do not believe this will be the case. It would make sense that we see 1125 on the S&P, at least before we see 1040 again. This would be a great opportunity to add some swing shorts and take profits on longs. Below are the pivot levels for the week and month.
Our line in the sand for the week will be $1122 bullish above, bearish below, meaning if we break above this level, we will look to double top on the S&P, if we come up to 1122 and fall back down we will look to a target of $1005 on the S&P, yikes.