{"id":54723,"date":"2021-06-04T23:32:22","date_gmt":"2021-06-05T03:32:22","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=54723"},"modified":"2021-06-04T23:32:22","modified_gmt":"2021-06-05T03:32:22","slug":"weekly-stock-market-forecast-11","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2021\/06\/weekly-stock-market-forecast-11\/","title":{"rendered":"Weekly Stock Market Forecast"},"content":{"rendered":"

This week we have a stock market forecast for the week of 6\/6\/21 from our friend Bo Yoder of the Market Forecasting Academy<\/a>. Be sure to leave a comment and let us know what you think! <\/p>\n

The S&P 500 (SPY)<\/h2>\n

\"SPY<\/p>\n

The S&P 500, (analyzed here using SPY has done pretty much what I posted in last week\u2019s column<\/a>.<\/p>\n

\u201cI suspect we will see a bullish whipsaw before any retest of the range lows can occur.\u201d<\/em><\/strong><\/p>\n

This breakout isn\u2019t well sponsored, so I would expect it to break out and then fail back down to the bearish side. I\u2019m still not seeing the kinds of odds that I want in order to put on much new risk this week. I have one new opportunity to look at, but other than that I am still in a \u201crisk-off\u201d posture.<\/p>\n

CSX Corp (CSX)<\/h2>\n

\"CSX<\/p>\n

CSX has hit a powerful area of resistance after a multi-month rally. It has recently rallied into an area that is turning prices down for a new bearish wave of selling. It offers an attractive opportunity in a very so-so market and should be able to drop down to test the green target zone in the weeks to come.<\/p>\n

Electronic Arts (EA)<\/h2>\n

\"EA<\/p>\n

Electronic Arts (EA) was on strict probation last week and failed to prove that it should be kept alive. The scratch saved over $2 in additional risk.<\/p>\n

\n
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Gold (GLD)<\/h2>\n

\"GLD<\/p>\n

Gold (analyzed here using GLD) has been a shining star in a sea of waffling and sideways chop.<\/p>\n

As I stated in last week\u2019s forecast, the correction is starting, and normally I\u2019d hold on. However, the big gap down that we saw this week really \u201ctook the starch\u201d out of the bulls and should produce a deeper and more violent correction.<\/p>\n

It\u2019s time to take profits and start watching this market for another entry opportunity in the future.<\/p>\n

The Eurodollar vs The US Dollar<\/h2>\n

\"EUR\/USD<\/p>\n

Another week... yet ANOTHER \u201ctail\u201d formed on the weekly chart of the EUR\/USD currency pair.<\/p>\n

While it is still possible this market will drop down to the profit target, the odds have dropped radically. The \u201crisk-off\u201d theme continues as this trade is scratched and we wait for better places to deploy capital.<\/p>\n

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<\/a><\/strong>. <\/p>\n

Check back to see my next post!
\nBo Yoder
\nMarket Forecasting Academy<\/a><\/p>\n

About Bo Yoder:<\/strong><\/p>\n

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.<\/p>\n

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.<\/p>\n

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\u2019s, Active Trader Magazine and Forbes to name a few.<\/p>\n

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.<\/p>\n

He has an MBA from The Boston University School of Management.<\/p>\n

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.<\/em><\/small> <\/p>\n","protected":false},"excerpt":{"rendered":"

This week we have a stock market forecast for the week of 6\/6\/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) The S&P 500, (analyzed here using SPY has done pretty much what I posted in […]<\/p>\n","protected":false},"author":41,"featured_media":54726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6920],"tags":[1869,3438,31530,31531,8265],"class_list":["post-54723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ino-com-contributors","tag-bo-yoder","tag-chart-analysis","tag-market-forecasting-academy","tag-stock-market-forecast","tag-technical-anlaysis"],"yoast_head":"\nWeekly Stock Market Forecast - INO.com Trader's Blog<\/title>\n<meta name=\"description\" content=\"This week we have a stock market forecast for the week of 6\/6\/21 from our friend Bo Yoder of the Market Forecasting Academy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2021\/06\/weekly-stock-market-forecast-11\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Stock Market Forecast - 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