The Official EminiForecaster forecast for the trading week ending July 18th. has been posted.

There are no changes to the forecast. We expect the market to rise the first couple days next week and then decline from there.  Failure to take out the high of Wednesday today was not very bullish but we did manage to have an up day, and this is bullish as previously mentioned.

Cycling below the 1961 area is bearish, above it is bullish. We are currently slightly in bullish territory.

The volatility has been level to rising slightly in recent days and this is slightly bearish. On a longer term analysis, volatility is near an annual low.  This is bullish. However, keep in mind the months from June 17th into about October 17th are often high volatility months (particularly in up years), so we will want to monitor the ranges closely in the coming weeks for signs of this.

Our projections for the coming week are showing 1983 above and the low end is showing 1934 as a potential target. This method operates on about the 70% probability level over time.

Monday, an open below 1954.50 is bearish. An open above 1959.50 is bullish. In between these levels is neutral and ranging is more likely.

We have a busy report schedule next week with no reports on Monday. Be sure to check the schedule for times:

In order to view last week’s history, click here:

EMF Team