Article #15 Forecasting the S&P500 emini 60min chart

This week is shortened for the 4th of July weekend. There is no trading Friday July 3. The two charts below shows the S&P500 E-mini forecast for Tuesday June 30, 2015 on the 60 minute chart. The forecasts are made with MarketWarrior 5 using the DTN IQFeed symbol @ES# The first chart below shows the S&P500 E-mini through approximately 8:55 AM ET. At this time I recalculated the 60 minute chart forecast and the result is below. The forecast has two Change-In-Trend(CIT) times on June 30. The first is a top at 13:00(1:00) PM ET with a top price at 2068.38. The second CIT is a bottom at 20:00(8:00) PM ET with a bottom price forecast of 2059.38. Normally I do not recalculate the 60 minute chart forecast during the main trading session although you have the option of recalculating the forecast at any time.


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The second chart below shows the S&P500 E-mini during the hour 22:00(10:00) PM ET at approximately 10:50 PM. The forecast for a top in the 13:00(1:00) PM ET was off by one bar as a top formed in the E-mini during hour 14:00(2:00) PM ET. The forecast for a bottom during hour 20:00(8:00) PM ET was off by two bars. The actual bottom came early at 18:00(6:00) PM ET.

Today, June 30, 2015 the overall pattern of the day, was a sideways pattern that made several swings up and down over the same price levels. The automatic forecast shows a pattern with an upward slope from the start of the day to the end of the day, which was not reflected in today’s sideways price action.


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