【Weekly Forecast】Sep 14-18th 2020

1. Review of Previous Week

《Short Term》

【SMA】

SMA indicates a boxed range between 50 days MA(support line) and 25 days MA(resistance line). The flat resistance line indicates a short term bear market trend.

 

【Volume】

Volume does not indicate any clear trend

 

【RSI】

RSI could not break through 50 last week. 

 

【MACD】

MACD clearly indicates a bear market trend in the short term. 

 

【Bollinger Band】

Upper band is flat now while lower band slightly heads into down trend.

 

《Mid Term》

【SMA】

S&P500 is approaching 13 weeks MA. Both 13 weeks and 26 weeks MA going up can be a sign of continuous uptrend market.

 

【Volume】

Volume has decreased from the previous week. Market's panic might have eased.

 

【RSI】

RSI indicates futher downside risk over the next couple of weeks. SPY was 358.75 at RSI 70 and is now 334.06 at RSI 58.60, a next turning point will be around 317 at RSI 50.

 

【MACD】

MACD clearly indicates a bear market trend in the mid term. 

 

【Bollinger Band】

It does not show any clear indication 

 

2. Forecast for Upcoming Week

SPY will remain in the box range between 327(13 weeks MA) and 341(25 days MA). It will probably stay around 333 waiting for 50 days MA comes closer.

*This blog is intended to be my personal memo of my analysis. The investment is at your own risk.