The Hot Stocks Outlook uses VantagePoint’s market forecasts that are up to 87.4% accurate, demonstrating how traders can improve their timing and direction. In this week’s video, VantagePoint Software reviews forecasts for SPDR SPY($SPY), META ($META), Newmont Mining ($NEM), Barrick Gold ($GOLD), Microsoft($MSFT), Carnival Cruise ($CCL), HASBRO ($HAS)
SPDR SPY ETF ($SPY)
Hello again, Traders, and welcome back to the Hot stocks outlook for October 20th, 2023. Hope you all are having an excellent week out there in the financial markets. As always, plenty to cover in this week’s Hot stocks Outlook, so as we typically do, we’re going to go ahead and start out and take a look at the SPY index to get a sense of the S&P 500 and where things are at here.
So, when we look back at these broader dates going back 12 months or 6 months or back to the beginning of the year in January, well, we can see that we’re still up. But what’s been happening over the past couple of months and week to week is we’re seeing more weakness come into shares. This is why you need to be especially careful and really have the right tools to help you make better trading decisions out there in the marketplace.
So what I want to do here is we can start out here with Newmont and Barrick Gold, a really good example of how these Global intermarket relationships work and a really great example of how this really ripples all the way down through individual Commodities.
Right. So if we’re looking at shares of Newmont mining, well, what we’re looking at here is daily price action. Each one of these candles is representing a full and complete trading day, and it’s right up against the price data that we have that black line and blue line value.
So, what the black line is, well, that’s a simple moving average, right? So that’s really our Baseline, letting us know where market prices have been over a given period of time. And what we want to compare that to is this proprietary predicted moving average that gets generated via that artificial intelligence process and doing what we would call intermarket analysis. So for that essentially prediction of future average prices to get plotted on the chart and really to generate these crossovers helping us identify fresh Trend shifts in the marketplace.
Well, this is where that technology is coming in and why it’s so applicable, especially in things like Newmont mining. Well, we understand that individual stocks will share some correlation, certainly the ETF groups like some mining ETFs will share some important relationships, whether it be Newmont or Apple shares, a tech stock, or whatever it happens to be. But especially in Commodities, well, you know what’s been going on in gold and silver, right? We’ve seen a lot of geopolitical risk, a lot of movement in a lot of these Commodities, as well as crude oil, and that plays out in the individual stocks that you may be trading as well as opening up really nice trading opportunities.
So, you know, this goes all the way down to individual currencies like the dollar Index. And so these Global Market relationships that are being taken into account by this software and technology, and it’s utilizing that information looking at inverse correlations, positive correlations, leading and lagging relationships, and it’s really summarizing essentially creating a prediction of future average prices. And it’s those future price predictions that are used to generate these highly accurate indicators.
Aside from that predicted moving average, as we see that Blue Line crossing above the black line and this is going back now you know a couple weeks now right. We had a really nice movement in Gold going back to Friday, but this is now you know let’s see what would have been uh you know going back to really Friday and Monday the week before um actually Monday right Monday two weeks ago uh seeing Newmont mining start to move to the bullish side and and seeing a pretty nice rally here in Gold, I mean from Peak here uh moving up to let’s see uh you know this moved up about seven almost 8% after a little bit of pullback now.
What we can highlight here as well is we’ve got tools like the Vantage Point neural Index right, and so this highlights very short-term strength or weakness utilizing that same process of intermarket relationships but really tuned to solve a different problem right short-term strength or weakness in the marketplace. And so we get this weakness coming into yesterday’s uh price action, and that leads du to really our next set of predictive indicators the predicted highs and lows from Vantage Point.
And so you see how this acts as a very good tool to let you know that where is the overall range for the day likely to move and that can help you set up your positioning help you get good entries and really minimize your risk and exposure in the marketplace. So uh again something going on here especially in the gold dollar Index just a lot of movement happening uh, and you want to be able to take advantage of that.
Here’s Barrick Gold. So again getting that really confirmation as we look across the basic material IAL space and you know see again gold and and silver and precious metals doing quite well we see a very strong forecast you get one blip here where that neural index is bearish but overall day-to-day very very bullish forecast.
And what’s interesting about this is if you use Vantage Point’s predicted highs and lows you, if you have an order ready for this day, well, you’re just going to get filled at the open Gap up the next day uh and really be Off to the Races here and benefiting off of really that Friday um, you know and um Monday move we see in the gold market uh. So here again we can take a look at about a 9% rally um again just over the last six trading days right. So again seeing there’s there’s few areas where there’s some you know really strong forecast coming through, that predicted moving average is well above that actual moving average, uh, and that’s where if you’re running things like Vantage Point and intelescan to really highlight when these crossovers are occurring well you start to see a lot of these synergies in the market and really a lot of those intermarket relationships start to play out uh.
Now here’s Meta. We looked at this last week and highlighted some really nice uh opportunities as far as getting on the bullish side of the market right. So if you trade some of these bigger stocks, they can be very helpful uh, as far as indicating where the overall indices and broader markets may be moving things and so uh here we look at shares of Meta we see that Blue Line crossing above the black line and what this created was well a decent buying opportunity right down towards these predicted lows get you in early on the trend, and we see that volatility really expands we ba blast through that predicted high, and so this is where volatility can increase and you see how you know after that big move up we you know push past this predicted high and low even though the range was going lower we see some volatility start to kick in and this is where just generalized weakness we’ve started to see spread out throughout the marketplace, and this is where you want to be especially careful.
So uh, you can use Vantage Point to say okay well take profit up near these predicted highs especially if you’re a short-term Trader as that neural index gets uh bearish there we get it up for a bullish day back down to bearish and again highlighting you may really want to take profit in some of these positions and particularly Meta here we have a crossover to the downside. So you know this is one of the more robust stocks right so this is what we’ve been highlighting in some of these Tech areas is where that strength is coming in but that strength is really few and far between now maybe you’re trading again some of these bigger tech stocks.
Here’s Microsoft we see that cross over to the bullish side neural index quite bullish and you know this is the timing to come in and start establishing a position maybe benefit as shares move higher we see these predicted lows being hit the market moving uh you know really sideways over the past week here but what we want to pay attention to especially also in the short term is Vantage Point’s predicted neural index is a 48h hour indicator and so if you’re a short-term Trader what you understand is yes the trend is up but you may want to take some profit over the next couple of trading days when that neural index gets bearish because you’re likely to see some weakening in prices and so it’s interesting here if we look that neural index gets bearish and then the subsequent predicted highs and lows. Well what it’s telling is look towards these predicted highs to go ahead and take some profit um because you’re very likely to see some lower prices at least in the very short term so you want to be very very careful in this market when you see those warning signs start to uh you know emerge especially in things like Meta we’re seeing gold start to spike and we’re seeing just some general weakness and so this is where in the portfolio you may have some areas where you’ve really identified some areas of broad-based weakness right which are only likely to move lower as we see more weakness play out broadly across the S&P 500 and and then the broader markets here right.
So here’s Carnival Corporation you see that neural index quite bearish but you’ll get those blips where you see over the subsequent 48 Hours you actually do see some bullishness in price action but clearly here a lot more bearishness from the neural index clearly in a downtrend and then of course we can use tools like Vantage points predicted highs and lows for that shorter term Trader to come in and say okay well if I’m trying to short this Market where do I want to look for these price levels and what can also be a really good indication here is you know you get this predicted high and low before the trading day occurs so you’re getting this level that’s slanted High higher and slanted higher letting you know that look there is some short-term strength here. You know in the downtrend so you may want to be aware of that uh but then this you see very quickly shifts back to bearish and we start hinging up against those predicted highs and moving lower and lower uh still here so uh really nice opportunity here in Carnival. And again this is indicative of some of this broader weakness in the market that if you’re running Vantage Point inteliscan and seeing a lot of these shifts taking place in the marketplace well you can really identify this this broad-based weakness here and you got about 26% decline the past 25 trading days .
Here we keep bringing in shares of Hasbro um and again seeing this cross over the downside a lot of weakness here so you know identifying these areas where that predicted moving average is well below the actual moving average um, and markets are really in these established downtrends so again we can bring up very short-term predicted highs and lows which will of course refine you know your entries into the market where you’re taking positions and where you’re potentially taking profits uh but still understanding you know what’s the trajectory here right short take profits on short uh and you see again even these predicted lows and all that doing a good job for the shorter term Trader to help minimize the risk take those pieces out of the market and uh again I think stay very cautious in the market that we currently have here you know there’s certainly some money to be made on the bearish side of things um and certainly you want to hedge any bullish opportunities that you have there so you see about a 19% decline in 29 trading days. There’s certainly some uh bearish situations playing out in some of the marketplace and certainly some risks arising as well so uh you want to be aware of this stuff and have the right tools to capitalize it of course based on your strategy your approach and have the best tools to really execute that. So once again this has been our hot stocks outlook for October 20th, 2023. Thank you all for watching, best of luck out there, and bye for now.