The S&P 500 has bounced pretty much “around” our trend lines but the small breach gives cause for concern. The questions now are will this support hold and can the SPX Index make a rally to a final high for the year? We don’t know the answer to either but today’s low at 4652 is a nice place to put our stop (we’ve gone for 4649) on our long entry… Read More »S&P 500 bounces at levels but will support hold?
The S&P 500 is now at key trend support levels. These levels need to hold and we need to see a bounce on the SPX index for our short entry zone to come into play at the end of the month. If the SPX 500 continues to fall then the possibility of a long entry will come into play before the end of the year. Today is a good lesson… Read More »S&P 500 Falling – Now at key trend support levels
The Gold price has fallen as forecast and has also hit our long entry zone – hard! To get the risk/ reward ratio we are looking for we have to place our stop at 1793 which is also in line with one of our confirmed trend lines. A breach of this will possibly take gold down to 1776. Disclaimer The content on this site including products sold in our store… Read More »Gold Price Falls: Gold Outlook November 22 2021
The FTSE 100 needs to show some strength this week if it is to hit the higher levels of our short entry zone. Timing of the current pull back was perfect but the FTSE now needs to get back above the unconfirmed trend line (around 7270 today). The short entry zone is currently very wide and we would like the FTSE 100 to get close to our thick red line… Read More »FTSE 100 Outlook: Forecast Update November 22 2021
Brent oil is at a key support and a key trend line which gives us a compelling opportunity to go long. This is “low risk” but certainly not NO RISK as a secondary support line comes into play under $76.0. We have entered the market long at 78.4 and have a stop in place at $75.4. If the market falls to $76 and makes a good bounce we will likely… Read More »Brent Oil at key trend Support
Our FTSE 100 outlook shows the FTSE Index moving in line with our short term forecast. Looking at the forecast trajectory on our FTSE 100 chart below you’d be forgiven for asking why we are not long on the FTSE. The answer is simple. Our forecast trajectory is merely an approximation. This stock index can move in a number of ways up to our short entry zone and there is… Read More »FTSE 100 Index Outlook November 19 2021
The S&P 500 had a good bounce on our channel trend line which indicates that the corrective move which began on November 5th may be over for the month. As a result we are long on the SPX Index (from 4695) until it gets closer to our short entry zone – or we are stopped out. With the short entry zone starting around 4790 we can place stops at around… Read More »SPX Index – Is the November correction complete?
We are following brent oil very carefully – it is our only open position. Brent is currently around $6 lower than our short entry and it has the potential to fall another $8. However we are concern that there is significant trend line support in the next few days at around $77.8 and $76.0 which could result in sideways to upwards consolidation which would scupper the move down. If decent… Read More »Brent Oil Price Outlook November 17 2021
The NASDAQ is having another go at some major resistive trend lines and if it manages to get through this area we can certainly see the NASDAQ making a significant new high towards the end of November. It’s far too risky to enter a new long at this stage but if we can get a good pull back in the next few days there could be a relatively low risk/… Read More »NASDAQ Forecast November 2021
The FTSE 100 continues to move in line with our forecast. We would like to see some more downward movement towards 7270 before a bounce up to our thick red line at around 7460 where there is currently a low risk short opportunity. We’re not recommending new long positions at 7270 as the FTSE 100 Index does have the potential to fall to 7150. If this happens we would then… Read More »Forecast for the FTSE 100 Index – Update November 17 2021