Monthly we see the potential for June to produce an Opposite Trend into July from that of May. April formed a Low where May took the Market higher with potential for a June High OR a continued reTest of support.
The Market closed the month of May Upside from the Downside movement of April.
With our Trend models you can see that July starts the Next Trend where we have a choppy pattern into September which is our Strongest Target for the foreseeable future on the Monthly level.
Weekly – We have a Trend moving into the week of June 10th with the Potential for the Trend to carry on into the week of June 24th. There after we may have a Decline into July.
Daily – We see that June 3rd should set the Trend moving thereafter into June 7th. Should the High of May 31st be broken on June 3rd that would be a strong Indication of a continued Rally at least into the Target Week of June 10th.
Should June 4th break the High of June 3rd Intraday or by Close our Price Models warn that we should go back to test the 388.29 level most likely this week and then back to the 390 area by the week of the 10th.
Should the LOW of the 3rd be broken on the 4th expect the Market to continue it’s downside movement for the week with potential to bottom either this week or Next week of the 10th.
Summery: Should the 4th break the trend of the 3rd (High or Low) then expect that Trend to move into the week of June 10th with potential for the Market to Move into the week of June 24th. As of now our Models are primarily Bullish Suggesting a continued Rally into Mid June which is a Strong Target to form a High before we move down into the September Target.
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