Tag: chart analysis

Weekly Stock Market Forecast

Posted on by The INO.com Team

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)

SPY Daily Chart - Stock Market Forecast

The S&P 500, (analyzed here using SPY has done pretty much what I posted in last week’s column.

“I suspect we will see a bullish whipsaw before any retest of the range lows can occur.”

This breakout isn’t well sponsored, so I would expect it to break out and then fail back down to the bearish side. I’m 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 “risk-off” posture. Continue reading "Weekly Stock Market Forecast" →

Weekly Stock Market Forecast

Posted on by The INO.com Team

This week we have a stock market forecast for the week of 5/30/21 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 S&P 500 (analyzed here using SPY) extended the range forward this week, which, as noted, was the most likely scenario.

The inaction this week has “coiled the spring” in the market, and I would expect to see an increase of volatility next week. In terms of a forecast for this week, I can’t make one with confidence as the odds are about 50/50 right now in both directions as the market’s supply/demand forces are balanced right now.

There is little motivation with the indexes, so quiet to add risk this week, and I suspect we will see a bullish whipsaw before any retest of the range lows can occur.

Time to keep my powder dry and wait for one side or the other to commit. Continue reading "Weekly Stock Market Forecast" →

Dollar, Gold, And Silver Update

Posted on by Aibek Burabayev

The U.S. dollar index (DXY) did not make a significant pullback despite my expectations posted earlier this month. The minor bounce was short-lived as the price quickly reversed all gains and updated the low after that.

Dollar, Gold, Silver Update: Daily US Dollar Chart

The downtrend is so strong that DXY could fit within a very narrow orange channel. However, I think we still need a visible correction to come, as new signals are alarming. Continue reading "Dollar, Gold, And Silver Update" →

Weekly Stock Market Forecast

Posted on by The INO.com Team

This week we have a stock market forecast for the week of 5/23/21 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

In last week’s forecast, I shared that I expected “a lower high to form and then a push back down to break below the recent lows near $405.” The S&P 500, (analyzed here using SPY) did indeed form a lower high and DID test the $405 level, but without the bearish sponsorship needed for a breakdown. Continue reading "Weekly Stock Market Forecast" →

Bitcoin, Ethereum, And Ripple

Posted on by Aibek Burabayev

The bullish setup for Bitcoin that I discussed last week was not triggered, as the price did not break above the bullish confirmation level. The price went the opposite direction, falling beneath the invalidation trigger instead.

The key factors for the sell-off were the U.S. probe into the Binance crypto-exchange, and Tesla is reversing its stance on accepting Bitcoin. The green economy does not support Bitcoin due to its vast electricity consumption, which is generated primarily from fossil fuels.

Bitcoin Daily Chart

The combination of peaks in one area with the highest one in between has built the famous Head & Shoulders reversal pattern (orange). The main focus now is on the orange dotted Neckline as the price hovers around that support. A clear breakdown of it is needed for the pattern to play out. Continue reading "Bitcoin, Ethereum, And Ripple" →