zondag 4 juni 2017

SP 500 Weekend Update

Early in the week we may see a high around June 5, 6 then down. It may just trend down for the month. This coming week the Sun square Neptune and Uranus trine the North Node may mark a change in trend. This could trend down (as noted) or flat and a sharper move down in late June / early July...


We had a descending triangle (green) on the chart. As often happens price crashed through the upper line of the triangle, in effect gapping twice. Those gap areas may act as support. Note price moved down and bounced close to where the arms of the descending triangle met. We are expecting volatility with both ups and downs but moving forward I’m looking for a low probably mid-June or early July...


The following chart of the SP500 includes the heliocentric Bradley indicator (blue line). There were three possible change in trend dates, which may have been the 6 week lows. Coming up we have potential turn dates on May 26th and late May, early June and 1st week of June...


I continue to watch the 24th harmonic cycle (360 / 24) cycles for short term turns. The last hit was on May 31st, and then a move up. The next hits are June 15th. Then June 29th which is on the 24 cd cycle. The latter could start a change in trend in July....