The Tentative EminiForecaster forecast for the trading week ending December 21st has been posted.  (Click “Next Week”)

We expect the market to decline into Thursday.

We have rolled to the new front Month which is March. As a result, the current numbers on the forecast have been pushed lower than the December contract for last week’s trading was.   This last week, the market headed higher as expected and missed our minimum target by a few points. Then the FOMC meeting sent the market south. Often when targets are not met it is stronger for the other side. Also, it is not uncommon for a market to change direction following a key report. It is a “Buy the rumor, sell the news” scenario.

Next week’s report schedule is fairly light with the bulk of potential market moving reports on Thursday and Friday. Be sure to check the reports that will impact trading next week

We are now still playing with a range / high volume areas bounded by 1407 and 1431.  Watch for potential reversals at about these levels. For now, we now consider the market to be bullish above the 1431 level and bearish below it.

The minimum expected targets for the week as of this writing are the 1442 region and the 1395 area below.

Tomorrow, if we open above 1419 it is bullish. Below 1410 bearish. In between those levels, ranging is expected.

We will update the numbers again this weekend-

Wishing you the very best, and a wonderful holiday season.

EMF Team