S&P500 Short Term Market Breadth Analog Forecast Starting Mar 21, 2016
By Lawrence
Review of Forecast for Mar 14, 2016
Going sideway pullback until 1.5% drop defended and led to an all out run higher to close positive for the year. Wild swings both ways in the week switching between bullish and bearish real-time breadth as forecasted. The breadth analog model did a good job for the week.
Forecast Starting Mar 21, 2016
Summary of the S&P500 short-term forecast based on my proprietary market breadth analog model as of the close of Mar 18, 2016:
Custom breadth exhaustion in place
Once 1.5% drop is in place it is likely it will extend to 2.5% and more
Extreme intraday volatility in both direction expected
Multiple intraday turning points expected with wild swings that has to be identified with real-time breadth
My market breadth based analog model takes into account the short term volatility, daily market breadth readings and a few other intraday breadth data to identify the current market conditions. Using the information, the model then went through the historical data over the past 20 years to generate its statistical analysis. The model has been pretty good at identifying important swing tops and bottoms over the past few years by providing early warnings about potential volatility upticks.
Overview
Emini overnight range 2071.25 up to 2086.00 (at 9:05 am)
Overnight Midpoint 2078.50
Previous Week Mid 2065.00
Emini S&P is now trading at the top part of its range with ...
S&P500 Short Term Market Breadth Analog Forecast Starting Mar 21, 2016
Review of Forecast for Mar 14, 2016
Going sideway pullback until 1.5% drop defended and led to an all out run higher to close positive for the year. Wild swings both ways in the week switching between bullish and bearish real-time breadth as forecasted. The breadth analog model did a good job for the week.
Forecast Starting Mar 21, 2016
Summary of the S&P500 short-term forecast based on my proprietary market breadth analog model as of the close of Mar 18, 2016:
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Short Explanation About The Model
My market breadth based analog model takes into account the short term volatility, daily market breadth readings and a few other intraday breadth data to identify the current market conditions. Using the information, the model then went through the historical data over the past 20 years to generate its statistical analysis. The model has been pretty good at identifying important swing tops and bottoms over the past few years by providing early warnings about potential volatility upticks.
For the technical explanation of the concept, you can read about it here, Market Breadth Primer: Market Breadth Analog Forecasting Method
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