Next week market range predictions by Trevor Smith.
Range expansions and trending markets are more likely next week because of this week’s narrowed ranges and pivots.
In this closing week, five of 10 projected weekly ranges printed Thursday night with the other ranges being close.
Next Week’s Predicted Ranges
E-mini S&P 500
High Range 3368-3347; Low Range 3283-3268
Bearish-skewed range (-5 pts) is from opinion based on market internals, negative divergence. Countertrade sees new highs.
Japanese Yen
High Range 9151-9129; Low Range 9085-9055
Bull-skewed range (+20 pts) based on opinion from moving averages/their price-spread ratios. Countertrade sees lower lows.
Euro FX
High Range 1.121-1.119; Low Range 1.115-1.112
Range likely to expand in both directions based on recent narrow ranges and pivots. Countertrade expects sideways, narrow range.
Gold
High Range $1576-$1568; Low Range $1544-$1531
Bidirectionally-expanding range based on narrow ranges & pivots. Fibonacci targets are median points of ranges. Countertrade expects sideways, narrow range.
Crude Oil
High Range $6050-$5933; Low Range $5799-$5675
Bidirectionally-expanding range from opinion based on narrow range & pivots. Fibonacci targets in closest third of ranges to Thursday night price; $57.59 is 20-week moving average level. Countertrade seeks continuation down.
Last Week’s Predicted-Versus-Actual Ranges (From Friday a.m. to Friday a.m.)
E-mini S&P 500
High Range 3318-3298; Low Range 3341-3226 (3060 outlier)
Actual: 3323-3260
Japanese Yen
High Range 9235-9211; Low Range 9120-9091
Actual: 9169-9093
Euro FX
High Range 1.124-1.120; Low Range 1.112-1.108
Actual: 1.121-1.112
Gold
High Range $1588-$1575; Low Range $1529-$1519
Actual: $1564-$1536
Crude Oil
High Range $62.28-$61.28; Low Range $57.26-$55.25
Actual: $59.78-$57.36
See More analysis from Trevor here
Note: Nothing herein shall be construed to be specific financial advice. While reflecting my best good-faith efforts to forecast markets, no guarantees of accuracy are made from my range statistics, aggregate statistics, frequentist interpretations, and pivot math from hand calculations. I am a registered newsletter CTA, and all required disclaimers apply. Trade at your own risk with money you could discard/not miss.