The S&P 500 (ETF Proxy – AMEX:SPY) if faithfully following through on our recent forecast for a bounce. Now that price has been rejected by the grey “Struggle Zone”, we are focused on looking for a shorting opportunity near the $200 per share level.
“Alphabet” (NASDAQ:GOOG) was rejected at the lows of the red zone, and now has rallied back up into this area to offer a second chance for entry. We are forecasting that this rally will stall out as a lower high and confirm the recent top as a significant “end of trend” reversal.
McDonalds (NYSE:MCD) recently broke out to a new high on its daily chart. This breakout is indicated by 3D Apex Predictive Failure Technology to fail. I am expecting to see this rally stall out within the red zone and that a snap back reversal will occur.
Bo Yoder
RBJ Financial Group
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