Category Archives: Forecasts

The NASDAQ Is Getting Ready to Move

We sent out a private note to our subscribers last Thursday stating that the NASDAQ index has experienced three distribution days so far.  Last Friday the NASDAQ also had a sizable selloff but with a light volume, therefore last Friday was not a distribution day.   And amazingly the low of last Friday stopped right above a critical swing low.

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S&P 500 Cash Index Cycle Location 07102020

Last week the S&P 500 and Dow were trading sideways and slowly grinding higher while the NASDAQ was strongly trending higher and closed at a fresh all time high.  Last Monday we sent out an email alerting the cycle inversion and the impact of the presidential election to the stock market. 

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S&P 500 Cash Index Cycle Location 07022020

The market did manage to pop up a four-day rally before the 4th of July holiday in spite of the the rising COVID-19 2nd wave.  We anticipated the possibility in our last blog, as long as the S&P 500 index held 2965.66 level, the market would rally.  Last Monday the market made an effort at open to take down the target, but failed.

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One More Swing

The S&P 500 cash index took out the previous week’s low at open on Monday and then immediately rallied off the low to form a very bullish intraday trading on Monday.  Tuesday’s gap up open produced a buy signal on the daily cycle level.  Last Monday the Fed chairman stated that the Fed will be buying individual company bonds, which is just one step

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S&P 500 Cash Index Cycle Location 06/12/2020

Last week the S&P 500 had more than 7% correction.  It took out the previous week’s high and low, but unfortunately it didn’t close below the previous week’s low on the weekly bar.  This is an outside reversal weekly bar, but not the best kind of outside reversal bar.  It needed to close below the previous week’s low to qualify for a text book outside weekly reversal.

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