This week we have a stock market forecast for the week of 11/21/21 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)
Another quiet week, weirdly so... I'm starting to wonder if this inaction is the behavioral proof that the only game in town these days is Fed-injected liquidity. Still stalking the short side as all my measurements are very scary and extreme to the bear side... Yet price (which is the ONLY thing that matters) doesn't react.
Interesting times... Risk is high right now, so keeping powder dry as I wait for a high probability entry to show itself.
SPDR Gold Shares (GLD)
Gold consolidated its gains after last week's rally. Nothing new to add at this point, except that it would be totally normal for this ETF to pull back to test $170 before a higher low can form. No worry if that occurs; it would actually build a nice foundation that could produce the next leg to the upside.
Goldman Sachs (GS)
GS set up its short pattern nicely last week and followed through, confirming its relative weakness.
The next liquidity pool to be tested will be the recent lows near $370, and if that swing structure can be violated, we will see a sharp acceleration as the last excuse for the bulls has been taken away.
I know I'm a broken record on this, but I am still waiting for an evidence-based signal that the levitation based on QE has worn itself out.
It's kinda like you have a friend who is deep into addiction, it makes you sad, but you are just waiting to hear that they have overdosed. It's going to happen... the uncertainty is when.
This will end in tears, and my job is to make sure the tears are NOT MINE. I'd like to think I have helped you, dear reader, put your wealth into a lifeboat so that you can thrive during a time that will harm the finances of so many.
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.
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About Bo Yoder:
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.
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.
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.
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.
He has an MBA from The Boston University School of Management.
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.