Futures Forecast S&P 500 and Crude Oil Oct 31

Futures Forecast Oct 31

This week we are looking at Crude Oil and E-mini SP500.
As the elections grow even closer, we are seeing the markets as a whole coil, wedge, and range. To me, this make sense as everyone is kinda in a wait and see mode.
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On the ES(emini-S&P 500), we are at the bottom of the Range around the 2121. Therefore I think for the next week coming into the U.S. election we will see a push to the upside back up to around 2150. Again this would allow us to stay in the range and in more of a wait and see. Technically we are in an uptrend. So I would like to see the markets continue to rise up after the elections, but time will tell.

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APA Zones Futures Forecast: 

To do our weekly Futures forecast, we use our elite neural network software to define the trend on each market.  This is done using multiple criteria and all automatic in the Elite system.  You can never be right 100% of the time, but we should all have a plan, and then react with the market as it changes.  When price moves and breaks through or bounces off the zones, the software automatically changes and adapts to the market to help keep you from being on the wrong side of a trade.

On Crude Oil: We have price ranging back and forth from 52 down to the low of 45 again.  We are certainly in a range.  This week I see us going down again before we head back up into the middle range as part of this election limbo.

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