This week we have a stock market forecast for the week of 5/16/21 from our friend Bo Yoder of the Market Forecasting Academy. Be sure to leave a comment and let us know what you think!
In last week’s forecast, the S&P 500 (analyzed here using SPY) had broken out to a new high, but as I wrote... Continue reading "Weekly Stock Market Forecast"
One of our readers requested the update on cryptos, including Ethereum, this week. Here we go.
The leading coin has taught us excellent lessons recently. I shared with you a bullish setup for Bitcoin a month ago. In the following update, I recommended to move the stop loss higher from $50k to $55k area to cut the risk after the breakout and increase the risk/reward ratio to sound 2.7.
The price indeed broke above the confirmation level of $61782 and quickly reached the new all-time high in the $65k area, but then it failed to advance.
We have the first lesson here from the RSI. As we can see on the sub-chart, the indicator did not confirm the new all-time high as it established a lower peak instead. This built the Bearish Divergence then, and the outcome you already know, the price collapsed dramatically. Continue reading "Bitcoin: Make It Or Break It"
This week we have a stock market forecast for the week of 5/9/21 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, (analyzed here using SPY) had created a topping process as I have been commenting on, and was on the 4th day of bearish activity when a new blast of buying took the market out to new highs.
This completes my forecast the other day when I said... Continue reading "Weekly Stock Market Forecast"
The market does not move in a straight line. I anticipated a correction to start in the U.S. dollar index (DXY) as it moved down too far without a break, and it came at the end of last week. Traders decided to book some profit ahead of a weekend, pushing the price of the dollar higher.
I highlighted the possible retracement area between 38.2% and 61.8% Fibonacci levels with the orange rectangle within the 91.60 - 92.30 range. The dollar nears the first resistance. The top of the rectangle is very close to the trendline resistance, making it a fortified barrier. Continue reading "Dollar, Gold And Silver: The Market Takes A Break"
This week we have a stock market forecast for the week of 5/2/21 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 (analyzed here using SPY) worked to process a new short-term top this week as forecast in last week’s submission.
My short-term forecast hasn’t changed since last week and can be seen in the form of the yellow arrows on the daily chart here. I expect to see a correction to form next week and then another push back up to retest the highs over the next couple of weeks.
The patience we have had to exhibit over the last month or two is paying off as there are a lot of nice opportunities showing themselves in individual stocks this week... Let’s look at a few! Continue reading "Weekly Stock Market Forecast"
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