{"id":55725,"date":"2021-10-24T08:00:27","date_gmt":"2021-10-24T12:00:27","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=55725"},"modified":"2021-10-22T18:35:49","modified_gmt":"2021-10-22T22:35:49","slug":"weekly-stock-market-forecast-27","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2021\/10\/weekly-stock-market-forecast-27\/","title":{"rendered":"Weekly Stock Market Forecast"},"content":{"rendered":"

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<\/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 time is finally here...<\/p>\n

SPY has to choose what to do next.<\/p>\n

I switched to the daily chart above this week to show you how the session went on Friday. Price broke out to an all-time high, then turned lower to close out as a \"Doji\" candlestick. This confirms a major daily double topping pattern, which SHOULD attract aggressive selling on Monday. <\/p>\n

I hedge a bit because my forecasting tools show that there will be a larger false breakout than just one tiny intraday \"peek.\" But by the time I start my writing next week, we should have seen some real commitment by the bulls or bears. I want this market short; it's rallying on inflation and fear and \"air.\" There is a big break coming, and I want to be on board.<\/p>\n

But in order for that to happen, I have to wait a bit longer. So I'll definitely be active on the short side intraday on Monday.<\/p>\n

Caterpillar Inc. (CAT)<\/h2>\n

\"Cat<\/p>\n

CAT had a good initial week as it lifted up out of the green zone. If the markets have just topped, this trade may struggle, so I may be forced to scratch this next week. I'll watch it closely this week and consider it \"on probation\" for now.<\/p>\n

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

\"GLD<\/p>\n

The battle of the candles in GLD ended up with the bulls winning out this week. That means we have dodged a bullet, and I would expect this market to continue to show some relative strength next week, especially if the market drops off after the daily double top.<\/p>\n

The PNC Financial Services Group, Inc. (PNC)<\/h2>\n

\"PNC<\/p>\n

Last week<\/a>, it looked like PNC might just pull it out, but alas... That was not to be.<\/p>\n

Price broke out hard this week and triggered stop losses as the highs of the green box were violated. <\/p>\n

The Boeing Company (BA)<\/h2>\n

\"BA<\/p>\n

Boeing has had a tough few years. After soaring to nearly $380 per share, it tanked into the scandals, bottoming out nearly $100.<\/p>\n

It has been clawing its way back since then and has shown lower, and lower levels of bullish energy at it wallows above the $200 per share level.<\/p>\n

I am going to use short exposure here to position myself for profit if the SPY dumps, and since it's a slow and steady trading stock, if the SPY creates a false breakout, this short should survive without triggering stops above the highs of the red zone.<\/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:<\/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's, 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<\/em>.<\/small><\/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 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) The time is finally here... SPY has to choose what to do next.<\/p>\n","protected":false},"author":41,"featured_media":55729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6920],"tags":[1869,3438,31530,31531,102],"class_list":["post-55725","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-analysis"],"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 10\/24\/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\/10\/weekly-stock-market-forecast-27\/\" \/>\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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