The Official EminiForecaster forecast for the trading week ending October 24th has been posted.

http://eminiforecaster.com/members/membersblog/forecaster.php

There are no changes to the forecast. We expect the market to rise into mid week and then decline from there.

Cycling below the 1869 area is bearish, above it is bullish. We are currently in a slightly bearish mode.

The volatility has been rising in recent days which is bearish and at about 47 points per day.  Also keep in mind the months from June 17th into about October 17th are often higher volatility months (particularly in up years) but this will typically be proceeded by higher volatility which we are seeing at this time (though we are now past it).

Our projections for the coming week are showing 1963 above and the low end is showing 1780 as a potential target. This method operates on about the 70% probability level over time. Currently these ranges are highly expanded due to the very high volatility and will likely become smaller by Sunday’s forecast.

Monday, an open below 1875 is bearish. An open above 1886.50 is bullish. In between these levels is neutral and ranging is more likely.

We have a thin report schedule next week with no reports on Monday.

EMF Team

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