Thursday, October 22, 2015

Thursday stock market forecast

The Hoot 
Actionable ideas for the busy trader delivered daily right up front
  • Thursday uncertain.
  • ES pivot 2016.75.  Holding below is bearish.
  • Friday  bias uncertain technically.
  • Monthly outlook: bias higher.
  • Single stock trader: VZ still not a swing trade buy.
Recap

Well it looks like it's time for another Night Owl Lite.  I kind of ran out of time on Wednesday to write the post, though I did do the research.  So let's just cut to the chase with the results below.

The technicals

...skipping the chart commentary tonight ...

Accuracy: 

 Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    8      6       4           1       0.563    627
February   6      4       5           3       0.692    183
March      7      6       5           4       0.647    976
April      3      8       7           0       0.273      1
May        6      5       5           2       0.615    581
June       8      6       3           4       0.706    552
July      10      1       5           4       0.938   1212
August    10      2       3           2       0.857   2314

September  7      4       8           1       0.667   1404
October    4      5       3           1       0.500    406


     And the winner is...

Tonight I'm stumped.  The charts look mildly bearish but the futures are climbing non-trivially in the overnight.  And the VIX which I count on a lot stopped right on its 200 day MA Wednesday.  And the market is behaving oddly the past few days anyway so I'm just going to call Thursday uncertain and leave it at that.

Single Stock Trader

Looking bearish.

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