What I can say? – Congrats to all who followed my analysis and sold SP500. Oh my gosh, you can’t imagine how criticized I was for that forecast. But look how it paid. Today I want to start my weekly outlook with the stock market. I think I will get the same portion of critics ))) But it doesn’t stop me. Guys, we have seen the worst, market bottoms… I had longs in Sp500 and already booked it. Speaking about the short-term, we should see a bit more of an upside and then pullback. And its opportunity I am waiting for.
Everything tells Sp500 sets up for the rally. I know many traders are waiting for a huge decline saying there is no good news – why the market should rally? Guys, it never rises on good news. When recession or crisis ends, the market is way above its bottom. Check your charts, every time the same story. Big money accumulates positions before the economy shows signs of strength. Look at Fed funds, they will bring money to market. Besides, what caused a huge sell-off? – Virus. It’s reaching its peak and fade away soon. Do you know what it means? – All will be back to stocks. So, no matter if you are a short-term trader or long term investor look for and take buy signals. We will see a rally soon.
Wheat became one of my favorite markets this year. Its tight market that follows cycles very well. Managed accounts investors had profits from longs, then shorts, then longs again lol and now I think we will see one more move to the upside. SL – below last week’s low and targets near recent highs with possible extension to 608.
Wishing you a great week!
Sign up to our Newsletter
(We do not share your data with anybody, and only use it for its intended purpose)
No Representation Is Being Made That Any Account Will, Or Is Likely To Achieve Profits Or Losses Similar To Those Discussed Within This Site, Support And Texts. Our Forecasts and other Texts on this Website Should Be Used As Learning Aids. If You Decide To Invest Real Money, All Trading Decisions Are Your Own. The Risk Of Loss In Trading Commodities Can Be Substantial. You Should Therefore Carefully Consider Whether Such Trading Is Suitable For You In Light Of Your Financial Condition.
Futures trading is speculative and involves the potential loss of investment. Past results are not necessarily indicative of future results. Futures trading is not suitable for all investors.