This week we have a stock market forecast for the week of 12/19/21 from our friend Bo Yoder of the Market Forecasting Academy. Be sure to leave a comment and let us know what you think!
The S&P 500 (SPY)
In last week’s forecast, I said... ”if we turn then things should begin to accelerate to the downside.”
Well, this week, the breakout attempt came and was rejected, so for the first time in what feels like forever, I have the confidence and clarity to call a significant market top and get aggressive this week!
It's been a long time of boredom and patience; may it pay off in the next few weeks!
SPDR Gold Shares (GLD)
Gold gave me exactly what I forecast last week... increased volatility and proof of life of the bulls!
This significant bullish reversal candlestick on the weekly should bring a lot of attention and new buying to this market. I'd expect this move to produce a breakout above $175 and a new uptrend in the weeks and months to come.
iShares Silver Trust (SLV)
I have been stalking silver for some time, and at long last, I think I am about to be rewarded! A clear double bottom has formed on the weekly chart, and this, along with the weakness I'm forecasting for the stock market, should bring some significant buying to this metal.
I'm using the SLV as a convenient tool to analyze and forecast this precious metal, but like gold and GLD, any exposure to these markets will profit if my forecasts are correct.
Goldman Sachs (GS)
GS confirmed its bearish bias this week and is poised for a breakdown which should take down to test at least the $360 area. We paid our dues; now it's time to shine!
Ulta Beauty, Inc. (ULTA)
I admit I have an emotional connection to the success of the ULTA trade.
After the miserable testing phase, which JUST MISSED stops, I really want this to pay out so that it rams home the lessons about discipline and sticking to your trading plan that is so critical to trading success.
GREAT follow-through candle from ULTA this week; I'm expecting that to provoke more downside next week.
Voya Financial, Inc. (VOYA)
VOYA is a company with exposure to a lot of segments that I think will have a terrible winter.
Life insurance.
Retirement planning/investing.
Health insurance.
Forget anything virus-related for a second and think about all the other health crisis we see as folks are dealing with as the result of their behaviors and choices about what they put into their bodies during this 2-year ordeal.
This stock is poised for a significant breakdown, and I believe it's a great place to add some risk this week.
To Learn How To Accurately and Consistently Forecast Market Prices Just Like Me, Using Market Vulnerability Analysis™, visit Market Forecasting Academy for the Free 5 Day Market Forecasting Primer.
Check back to see my next post!
Bo Yoder
Market Forecasting Academy
About Bo Yoder:
Beginning his full-time trading career in 1997, Bo is a professional trader, partner at Market Forecasting Academy, developer of The Myalolipsis Technique, two-time author, and consultant to the financial industry on matters of market analysis and edge optimization.
Bo has been a featured speaker internationally for decades and has developed a reputation for trading live in front of an audience as a real-time example of what it is like to trade for a living.
In addition to his two books for McGraw-Hill, Mastering Futures Trading and Optimize Your Trading Edge (translated into German and Japanese), Bo has written articles published in top publications such as TheStreet.com, Technical Analysis of Stocks & Commodities, Trader's, Active Trader Magazine and Forbes to name a few.
Bo currently spends his time with his wife and son in the great state of Maine, where he trades, researches behavioral economics & neuropsychology, and is an enthusiastic sailboat racer.
He has an MBA from The Boston University School of Management.
Disclosure: This article is the opinion of the contributor themselves. The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. This contributor is not receiving compensation for their opinion.
