This week we have a stock market forecast for the week of 6/20/21 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)
Although it wasn't precise enough to base a new position on, the historical tendency for a "dead and drifting market" to produce a big increase in volatility came true this time yet again.
As the market expands to the downside, there are two test points that I will be watching with great interest. The first is the trendline support which is relatively minor just above the $412 per share area. The second will be the area of support back near the recent lows. As these areas are tested, I will be taking measurements of the supply and demand forces at that time and will be in a better position to make an accurate forecast.
The forecasting tools that I use give me incredible amounts of clear and precise information about the supply and demand forces that are impacting the market right now. By taking measurements at specific intervals, I can forecast where those supply slash demand imbalances are likely to resolve. It's kind of like the process meteorologists use in order to predict the track of a hurricane. They look at the radar to see where the hurricane is and then look at how that picture changes over time in order to interpolate speed, velocity, and likely areas of landfall. Continue reading "Weekly Stock Market Forecast"
