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About Bo Yoder
Beginning his full-time trading career in 1997, Bo is a professional trader, two-time author, and consultant to the financial industry on matters of market analysis, and edge optimization.

A partner at Market Forecasting Academy, Bo has been a featured speaker internationally for decades and has developed a reputation for trading live in front of an audience as a real-time example of what it is like to trade for a living.

In addition to his two books for McGraw-Hill, Mastering Futures Trading, and Optimize Your Trading Edge (translated into German and Japanese), Bo has written articles published in top publications such as, Technical Analysis of Stocks & Commodities, Trader’s, Active Trader Magazine and Forbes to name a few.

Bo currently spends his time with his wife and son in the great state of Maine where he trades, researches behavioral economics, and is a passionate sailboat racer.

He has an MBA from The Boston University School of Management.
Market Forecast For The Week Of 3/13/21
Written By Bo Yoder, Published 3/13/2021
The S&P 500 (ETF:SPY)

The S&P 500 (analyzed here using the ETF:SPY) has rallied up to test the highs as forecast in last week’s newsletter. As I said last week…

“For the most accurate forecast, I would have to take a pressure reading as the highs are tested in order to determine what the odds are for a double top or breakout to new highs.”

That pressure reading I’m seeing as the market closes out the week suggests that the resistance here at the highs will hold.

I would be taking short exposure in anticipation of a bearish reversal if there had been any candlestick confirmation an the daily chart. But, as you can see from the chart posted here, the Friday candle was a non-committal green bar.

I would expect to see the market tease and dance with the highs, then reverse and head lower before the end of next week.

With the weekly update format I don’t have the agility to call the top with precision so will try to capitalize on this generalized bearish opinion with a relative weakness opportunity in the stock of Coca-Cola (NYSE:KO)

After taking a nasty drop in March, the stock of Coca-Cola (NYSE:KO) has been clawing it’s way back up into the $50’s. The bullish energy has been wearing thin, and this last rally was rejected on Friday well short of the recent highs.

This stock offers a relative weakness play which should outperform if the indexes roll over as I think they will. Any price within the red zone would “set up” this short opportunity. If the price takes out the highs of the red zone, it would indicate a failure…and at least partial profits should be taken into the green zone.

Next week I will be able to take a new set of measurements to find out if the lows are likely to be tested or broken.

As I continue to stalk a long entry in Gold, (analyzed here using the ETF:GLD) we see the first signs of bullish activity as a reversal candlestick forms on the weekly chart.

The odds aren’t that great for this to be a sustainable bottom at this time, so I’m staying on the sidelines as I’m expecting the lows to be re-tested and processed before the probabilities grow to an acceptable level for me. 

Watching and waiting is the posture for me at this time.
Regeneron Pharmaceuticals (REGN)

The stock of Regeneron Pharmaceuticals (NASDAQ: REGN) set up last week and is currently building a “Breakout/Retest” pattern. When price breaks out above the last swing high near $480, it will confirm the reversal, create a new daily uptrend which should attract a lot more bullish interest to the stock.

My management expectations from last week are still valid….Last week I posted this:

“The highest probability price target is the $510-$520 zone, and I would suggest taking at least ½ profits into the green zone there. If/when that level is reached, I will be able to take a pressure reading and make a much more accurate forecast about how much higher this stock could go. If the momentum traders re-enter this stock, we could lock in gains and surf that wave of buying to much higher prices!

The supply/demand measurement tools I use are kind of like using a flashlight in a dark cave… They give you clear insight into what’s right in front of you, but it’s hard to predict what’s 100 yards ahead.

This constant flow of supply/demand snapshots gives you the information you need to to make very informed management decisions in the moment. With a weekly forecast like this, I can share an entry signal and the highest probability profit target with confidence, but I suspect there is a lot more profit in this stock then I can initially forecast, so will look forward to next week’s readings with excitement!”
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