Major US Indices, forecast for the week of August 15, 2016, Technical Analysis

Initially, the S&P 500 tried to fall during the course of the week but we have the hammer from the previous week to support this market. We did up with a fairly quiet we, but quite frankly this is a market that needs to take a break. We will probably grind sideways for a couple of weeks and before we start the next leg higher…Read more

The NASDAQ 100 and a slightly positive week as we touched the 4800 level. Eventually, we do think that this market continues to go much higher but quite frankly it is a bit overextended. A pullback would probably be welcome relief for those who are trying to get long but don’t have the opportunity to do so at the moment…Read more

The Dow Jones 30 broke higher during the course of the we, clearing the top of the hammer from the previous week. This of course is a very strong sign in a looks that the market is ready to go much higher. With this being the case, we are almost ready to start a situation that begs a “buy-and-hold” type of attitude…Read more