【Weekly Forecast】Sep 21-26th 2020

1. Review of Previous Week

《Short Term》

VOO: Sell

【SMA】
VOO broke through 50 days MA. If it breaks through Lower bollinger band(302), a next support line is 100days MA(292). Dead cross(25×50) is likely in about 1 month.

 

【Volume】

Volume indicates down trend.

 

【RSI】

RSI indicates down trend heading to 30.

 

【MACD】

MACD indicates another wave of a bear market trend in the short term. 

 

【Bollinger Band】

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

QQQ: Hold

【SMA】
QQQ tried to break up through 50 days MA and failed. If it breaks through Lower bollinger band(262), a next support line is 100days MA(255). Dead cross(25×50) is likely in about 1 month. On the other hand, a long lower shadow was also observed.

 

【Volume】

Volume indicates down trend. the volume doesn't seem large enough to be a selling climax.

 

【RSI】

RSI indicates down trend heading to 30.

 

【MACD】

MACD indicates another wave of 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》

VOO 

【SMA】

VOO is approaching 13 weeks MA. Both 13 weeks and 26 weeks MA going up can be a sign of continuous uptrend market in a mid term(3-6month).

 

【Volume】

Volume does not indicate any direction.

 

【RSI】

RSI indicates futher downside risk over the next couple of weeks. VOO was 330 at RSI 70 and is now 305 with RSI 57.40, a next turning point will be around  291 with 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

VOO will remain in the box range between 307(50days MA) and 300(lower bb). If it breaks through 300(lower bb), a next target is 100days MA(292).

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