Weekly Stock Market Forecast

This week we have a stock market forecast for the week of 10/24/21 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)

SPY Daily Chart - Stock Market Forecast

The time is finally here...

SPY has to choose what to do next. Continue reading "Weekly Stock Market Forecast"

Gold; A Thing Of Beauty...

Gold calmly continues cobbling its Handle; Miners lay in wait.

You see, there is all this noise out there. It comes mostly from inflationists touting gold in the same breath as copper, as oil, and as commodities of all flavors (and aside from gold and, to a degree, silver, those flavors are cyclical).

But you also see, gold is counter-cyclical in its best suit. You see on this monthly chart that gold has been forming its Handle to the bullish Cup ever since the inflation trades came to the fore in the summer of 2020. Therefore, you see that those touting gold and inflation together have been wrong for over a year now (and counting).

For those dealing in reality instead of dogma, gold is a candidate to break the Handle at any time. Then it would be off to the target at 3000+ over the course of a year or more. But reality holds another option as well, and that is to finish the Handle making lower.

So why not tune out the perma-pompoms in real-time, realize that the thing is bullish, but the trigger is either coming sooner or later? We are doing that more focused work in NFTRH and associated updates every week and will be on the spot when the proper signals engage.

This chart was created in 2020 as gold spiked to an all-time high and reversed (into the then-projected Handle). Continue reading "Gold; A Thing Of Beauty..."

$4550 Is Critical Resistance For The S&P 500

Two main factors are driving the rally in the US stock markets recently; retail traders buying the dip, and Q3:2021 earnings data is starting to shake away the concerns that resulted in the recent market rotation. Combine these activities with the start of the Christmas Rally phase (which usually starts sometime after mid/late-October and carries through into early January), and we have the making of a moderately strong potential price rally in the US major indexes over the next 60+ days.

The $4550 Level Is Critical Resistance For The S&P 500

I’m highlighting this ES Daily and Weekly chart pattern, below, to share with you how important it is to see the ES break above the $4550 level – the past high price peak. If the markets are going to start a new rally headed into the 2021 Christmas season, then we need to see the ES continue to rally and break above the $4550 level. It is critically important that price breach the $4550 level and attempt a strong move higher if this bullish momentum persists.

The ES has already broken above three previous Stand-out Highs, drawn in MAGENTA. This shows the strength of a bullish price advance and building bullish price momentum. Yet, the final price high, near $4550, is critically important from a technical standpoint. Continue reading "$4550 Is Critical Resistance For The S&P 500"

Crypto Market Cap Hits New All-Time High

Digital enthusiasts should be happy as last week, the total crypto market capitalization established a new all-time high of $2.5 trillion, surpassing the previous top of $2.4 trillion reached this spring.

Crypto

It coincides with the current move in Bitcoin, which is approaching an all-time high. Is it the main coin that contributes the most to pumping the market cap? Let us check it in the next chart of the total crypto market cap excluding Bitcoin. Continue reading "Crypto Market Cap Hits New All-Time High"

Weekly Stock Market Forecast

This week we have a stock market forecast for the week of 10/17/21 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)

SPY Weekly Chart  - Stock Market Forecast

This week's rally conforms to my forecast nicely from last week.

Nothing has really changed; I still have a lot of bearish readings for the S&P 500, which conflict with the surge of bullish interest that is currently being absorbed.

I still expect the SPY to rally up to retest the all-time highs and break out to the upside. Unfortunately, that breakout would likely be on low momentum, and the odds are high; it will turn into a false breakout. This would set up a classic "Trap trade," as the breakout players all react emotionally to the failed breakout. Continue reading "Weekly Stock Market Forecast"