A weekly Saturday night financial show that attempts to predict market direction for the week ahead by looking at a variety of charts and technical indicators. The big takeaway from last week’s trading is just how powerful the underlying bullish sentiment on Wall Street really is. Sofi AI Market Sentiment GaugeMarket is fairly valued.
Month: September 2017
The market prediction for the biotechnology ETF IBB was spot on this week. For all four trading days this week, the IBB actually touched the predicted path. Market Prediction Chart for Biotechnology ETF IBB The PPO looks bearish with the histogram bars not yet rising. The CMF continues to fall which suggests continued weakness but Read More »
The Russell 2000 crushed the market prediction path and exploded higher this week on Republican’s tax plan. The idea is that small cap stocks are mostly domestic companies that are less able to take advantage of tax loop-holes and so they are the companies that will benefit the most from tax cuts. Russell 2000 Market Read More »
Markets outperformed all of the predicted paths this week which really testifies to the bullish sentiment still prevalent in markets since Trump’s Presidential victory in November of 2016. The Parabolic SAR on the S&P 500 has even given a buy signal. One problem with the upward move is that the level of put buying is Read More »
A rare box-top has formed on the TICK chart on September 28, 2017. TICK Chart Institutional traders may be making their usual sneaky moves this week. Quarterly expiration of options takes place on September 29, 2017 and then we also have window dressing going on. Sofi AI Market Sentiment GaugeMarket is fairly valued.
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SOXX stock scares me right now folks. Yes it had a big up day but one day does not a market make. I put the prediction odds at about 50% if SOXX goes higher or lower from here. I’m not convinced SOXX has bottomed for the weakest 6 months of the year and I’ll explain Read More »
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The semiconductor ETF SOXX is following the predicted downward move closely. SOXX is now at a critical support level at $151.50. I think it will likely break below the $151.50 support level. Semiconductor ETF I have revised the predicted path to now be below the $151.50 support level to chop out and go sideways at Read More »
The Equity Put Call Ratio is rising which means put buying is outpacing call buying. Put hedging often happens before a market pullback on the S&P 100. Equity Put Call Ratio The put call ratio has risen to its highest level since late August. The rising put level relative to calls means that investors are Read More »