US Indices Forecast

US Indices Forecast, November 16, 2016

E-mini S&P 500

December E-mini S&P 500 Index futures touched a new all-time high earlier today, but sellers were waiting and stopped the rally. The selling was strong enough to turn the market lower, putting the index in a position to post a potentially bearish closing price reversal top.

If confirmed, this chart pattern could lead to a 2 to 3 day break with the next major target zone, 50% to 61.8% of the rally from November 9… Read More E-mini S&P 500 Index Forecast

E-mini NASDAQ-100

December E-mini NASDAQ-100 Index futures are expected to open the regular session lower based on the pre-market trade. Four days of sideways trading action suggests the market may be going through a transition period. This often leads to a volatile reaction once the market breaks out of its short-term range.

We also have to consider the influence the divergence between the NASDAQ-100 and the Dow and S&P 500 Index is having on the price action. One question that may be answered is will the NASDAQ weaken if the other indices weaken, or will it hold relatively steady?… Read More E-mini NASDAQ-100 Forecast

E-mini Dow Jones

December E-mini Dow Jones Industrial Average futures are trading lower shortly before the cash market opening. For a second day, the Dow is trading inside Monday range. This may be an indication that the market is going through a transition period that likely means investor sentiment is getting ready to shift to the downside.

Holding inside a range also indicates investor indecision and impending volatility. The longer the Dow sits in a range, the greater the reaction we can expect. The upside potential is unknown because we’ve never traded over 18918. The downside is known so sellers will have targets… Read More Dow Jones 30 Forecast

Published by

James Hyerczyk

James A. Hyerczyk has worked as a fundamental and technical financial market analyst since 1982. His technical work features the pattern, price and time analysis techniques of W.D. Gann.