The major indexes most likely put in lows for the week today. A strong rally is expected into next week as our system has forecasted for months as a pre-election top, October 21-24. Our first peak on October 12th occurred on schedule. A stimulus package will most likely be the catalyst. We expect the Russell to keep pace with the major indexes and most likely outperform. We will dial in the November forecast prior to the election. Expect 1000+ point swings back and forth trading during November.
UNG should break the last peak, $15, by the end of October with extension into late November and early December. We have discussed this AI target as far back as May being the strongest target of the year for natural gas.
If next week gold breaks $1985 on a closing basis, a spike may occur to $2060 before consolidating into the election. Our minimum target next week is $1955 futures. Silver we expect to tag $25.50 futures with a spike up to $28 possible. Early December is looking like new highs for silver and January-March of 2021 looks like $40+.
If Virgin’s launch is successful and not delayed, expect a strong move to $30 next week in SPCE and $40+ into November. Investing in individual stocks comes with company-specific risk. Oftentimes, it's a zero or hero play. If the launch flops, it will not change our long term outlook on SPCE. If you have options, make sure you have plenty of time. We prefer stock in SPCE.
We expect Bitcoin to rally hard next week into a stimulus trigger and weaker dollar.
With 2 major vaccine makers delaying their Covid vaccines due to bad side effects and no proven therapeutic treatment accepted by the media, restaurant stocks will be salmon swimming upstream. There are better places with less risk to put money for short to mid-term trades. Our system tracks cycles of all events, and we have a strong probability of a new pandemic in 2022. It is unknown at this time if it will be a Covid mutation or a new bug. These cycles date back 1000 years, something to take note of.
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