Forecast

Wk13: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… A handful of news announcements in this shortened week as the stock market is closed on April 2 for Good Friday. It would be logical to see sellers coming in at the S&P 1225 level (approximately) so we want to see if the bulls are able to push up and through the 61.8 retracement line. For those traders who got short at 1120 would then…

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Wk11: Market Forecast

News announcements for the week. Another short and sweet post. We’ll be gone the following 2 weeks as we are taking a little first quarter vacation to Costa Rica. The Dow is the the only top line figure to break above it’s prior highs. The S&P500 is at an extremely pivotal point and we should see a break higher or move lower in the next week or so. We will be monitoring the situation from Costa Rica, have a great trading week and…

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Wk10: Market Forecast

News announcements for the week. The markets continue to show strength even after some mixed economic news announcements. The Russell has broken out to new highs so we would look for the S&P and Dow to do the same in the week ahead. Watch for a hestitation or anticipation of S&P $1150 level.

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Wk09: Market Forecast

News announcements for the week. We have spent the last week chopping around between the 50% and 61.8% Fib levels. With the large hammer on the dailys as well as the bull flag consolidation this seems bullish, but we are looking for an S&P close above $1113 to confirm this or a close below $1093 to confirm bearishness.

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Wk08: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… A mix of news is on this week’s calendar including GDP and Existing Home Sales Friday. Looking at the market breadth for the prior week we do see a divergence. As the market went higher, the Up volume to down volume was decreasing. Typically the Monday after options expiry is down and with less volume on the prior rally a reversal could be in store.…

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Wk07: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… On a daily chart of the SPY we can clearly see the down channel that we are in. The hammer break below the channel could be classified as the final flag lower signaling a reversal pattern, and as talked about in the market recap, there is potential for a breakout as we sit at this downtrend line. The horizontal overhead resistance is strong and not…

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Wk06: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… A few crucial economic news announcements noted above. We are looking for more downside action with a short term S&P target of $1030. After hours, it is interesting to go back and print out daily and weekly charts from years past, including 1929 and 1987 and look for similarities in these charts to today’s price action. For those who follow Elliot Waves principles, this is…

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Wk05: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… The markets broke some pivotal support levels so the next target we are looking for is roughly $1030 on the S&P500. This will more than likely happen as a series of legs lower rather than all at once, just as we saw last week. We will wait for a small bounce or sideways action to get short.  

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