The Tentative / Official EminiForecaster forecast for the trading week ending December 28th has been posted.

http://eminiforecaster.com/members/membersblog/forecaster.php  (Click “Next Week”)

We expect the market to ascend all week. Keep in mind the markets are on a holiday schedule this week with the market closing early on Monday (12:15 CT), closed all day on Tuesday and reopening Wednesday AM. Here is a schedule for more details: http://www.cmegroup.com/tools-information/holiday-calendar/files/2012-christmas.pdf

This last week, the market did not follow our forecast, but it appears the Thursday low came in as expected and has so far headed higher from there.  Part of this mis-forecast may be due to the FOMC meeting last week.  Because of the shortened week next week, this forecast will constitute the official forecast and there will be no Sunday Forecast unless tomorrow brings unexpected changes in the cycling.  We are in a pre-holiday market and I noted in trading today the volume appeared to be lowering slightly. This trend should continue as many traders start for an early departure for a week off.

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 http://eminiforecaster.com/members/membersblog/calendar.html).

We are now still playing with a range / high volume areas bounded by 1436 and 1454.  Watch for potential reversals at about these levels. We now consider the market to be bullish above the 1436 level.

The minimum expected targets for the week as of this writing are the 1459 region and the 1409 area below.

Tomorrow, if we open above 1436 it is bullish. Below 1430 bearish. In between those levels, ranging is expected.
Wishing you the very best in this holiday season!

EMF Team