The S&P 500 index proxy (SPY) has a high probability to break down and accelerate to the downside in the long term, but in the next few days we have a low probability forecasting environment, so will stay away from this market.

WallMart (NYSE:WMT) has been selling off for quite some time. It has been showing signs of exhaustion recently, and has been on my watchlist. WMT has finally confirmed its bottom by forming a hybrid double bottom/head and shoulders reversal pattern on its daily chart. Our forecast is for this stock to rally up to test…

JP Morgan Chase (JPM) has exhausted itself to the upside, and is poised to set up a shorting opportunity. The price challenged the highs of the red zone from the previous forecast, then turned lower to form what is likely to be the head of a new head and shoulders reversal pattern. Aggressive traders could…

The Eurodollar vs. The U.S. Dollar (EUR/USD) continues to chip-chop around within the bullish zone of accumulation (green zone). The bearish power is quite light, so we would expect to see this market reverse and head back up to test higher in the week to come…perhaps after a head and shoulders pattern forms on the…

Apple Inc (AAPL) took out the trailing stops in a wild and illiquid whipsaw. Price did stay within the red zone, but the number of gaps and other proprietary indications show that the increased volatility is likely to continue. This leaves us with a high probability forecast that this stock will move lower, but a…

Goldman Sachs (NYSE:GS) has been strongly bullish for the better part of a year. After showing signs of a blow off top near the $220 per share area, this market has confirmed a reversal by forming a lower high. Bearish power is growing and we forecast that this stock will test down to the $200…

The S&P 500 index proxy (SPY) pushed right back into the $212-$213 area to create a lower high as forecast. Now, having confirmed the bearish control over the trend, this market has a high probability to break down and accelerate to the downside.

Pfizer (PFE) reversed off the lows as we forecast it might. This short squeeze took out the trailing stops in the $34.60-$34.75 area, and we will suspend our forecasting in PFE until the stock shows a high probability entry once again.

Apple Inc (AAPL) cleanly tested the $120 target zone as the stock exhausted itself to the downside. Having taken some profits off, the power measurements forecast a lower high and a retest of the lows.

The Eurodollar vs. The U.S. Dollar (EUR/USD) continues to chip-chop around within the bullish zone of accumulation (green zone). The bearish power is quite light, so we would expect to see this market reverse and head back up to test higher in the week to come.