Weekly Stock Market Forecast

This week we have a stock market forecast for the week of 4/18/21 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

If you were not clear about how directly the impact of the Fed’s expansion of the money supply affects the S&P 500 (analyzed here using SPY), this daily chart will fix that.

The market is levitating into what appears to be a “blow-off top,” as it becomes absurdly overbought.

But don’t fall into the trap… Continue reading "Weekly Stock Market Forecast"

Weekly Stock Market Forecast

This week we have a stock market forecast for the week of 4/11/21 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 understanding that the Federal Reserve will stop trying to fight and rather accept inflation coupled with the new round of stimulus has caused the S&P 500 (analyzed here using the SPY) to react with a gap up and run type surge.

Initially, the buying wasn’t connecting to an equal surge in internal bullish energy, but that changed later in the week as short squeezes and new longs brought their buying orders to the market. Continue reading "Weekly Stock Market Forecast"

Weekly Stock Market Forecast

This week we have a stock market forecast for the week of 4/04/21 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 news of the new infrastructure/stimulus bill caused the market (analyzed here using the SPY) to react with a gap up and run type candlestick. This surge took out the highs since it seems the Fed will accept a period of inflation as all these new print and spend policies work their way through the economy. The Jobs numbers beat expectations as well, and this also pushed stocks higher. However, the buying hasn’t shown to be connected to a new surge in internal bullish energy, so I’m still expecting to see a topping process begin soon.

With this new upthrust in prices, the head and shoulder pattern I was forecasting for this week has invalidated itself, and I’ll wait to see what profit-taking pressures show up next week before figuring out if this breakout is just simply the head of a NEW head and shoulders formation. Continue reading "Weekly Stock Market Forecast"

Weekly Stock Market Forecast

This week we have a stock market forecast for the week of 3/27/21 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

Not a lot has changed in my forecast since last week… I believe the S&P 500 (analyzed here using the ETF SPY) is working its way through a possible head and shoulders reversal pattern on the daily chart. This is a very well understood and recognized reversal pattern and would thus attract a lot of profit-taking activity which I’m expecting to turn the market sharply lower.

For those who are more visual, my forecast for the S&P can be best understood by looking at the yellow lines on the attached chart. The bounce I forecasted last week appeared on schedule and is driving the price up for what I believe will be a failed rally ending as a lower high. Continue reading "Weekly Stock Market Forecast"