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Major Market Ranges for Week of Jan. 26: S&P, Gold Could Breakout
01/24/2020 12:00 pm EST
Next week’s predicted market ranges from Trevor Smith.
Trends and breakouts are likely this Friday until next Friday, because of pivot math.
Index futures and Gold futures have breakout pivot math as of Thursday night that could change Friday.
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 3363-3345; Low Range 3296-3281
High range projections bear skewed by 6 points. Opinion from understudies, Bollinger Bands. Countertrade sees bullish market internals/new highs.
High Range 9191-9182; Low Range 9135-9120
Bull-skewed range (+8 pts) based on moving average supports. Countertrade sees 20-week moving average 9120 throwback.
High Range 1.114-1.110; Low Range 1.106-1.103
Extended ranges. Countertrade expects reversal rally off extreme pivot supports.
High Range $1579-$1570; Low Range $1550-$1542
Expanded ranges. Countertrade expects sideways, continuation.
High Range $5903-$5733; Low Range $5465-$5375
Slightly-expanded range from opinion based on wide ranges/wide pivots. Bullish opinion from 1,000-day moving average support/prior response. Countertrade seeks breakout range expansions.
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.
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.
High Range 1.121-1.119; Low Range 1.115-1.112
High Range $1576-$1568; Low Range $1544-$1531
Expanded ranges. Fibonacci targets are median points of ranges. Countertrade expects sideways, narrow range.
High Range $6050-$5933; Low Range $5799-$5675
Expanded ranges. Fibonacci targets in closest 1/3rd of ranges to Thursday night price. $57.59 is 20-week moving average. Countertrade seeks continuation down.
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.
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