CHANNELS, FIBS, AND TARGETS
The stock market forecast and outlook is posted below. That is what is relevant short term. Quick chart showing the initial potential channels and fibs IF the market fails at the daily 50 simple moving average area.
WEEKLY FORECAST AND OUTLOOK
Just a keep it simple stock market forecast and outlook for next week. No time to do a real post until I return end of July. Click here for overall analysis: Stock Market Update, Forecast and Outlook for June and July.
This week, the stock market moved as expected. Here is the Twitter backtest of the daily 50 simple moving average from Monday, and here is the DJI chart as of end of day Friday.
Also, we finally got a long entry to trigger in GDX gold miners yesterday and it delivered today. Recent Post Where Stalking an Entry and Yesterday's Entry Post. This is why waiting for breakouts is the far better strategy than trying to bottom tick or top tick moves. Chart:
Hope your summer is treating you well,