S&P 500 (SPY) New Highs into June! 5-19-24

Monthly – Our Trend models are showing a continued upside movement into June from the April Low. We should see all time Highs in June.

For Price Targets look at the bottom summery.

Following June we see the potential for a declining trend into September which becomes the next Main Target after June. Post September we have a new Trend developing into Q4.

Weekly – The Week of May 13th closed the Week Upside initially opening at 522.56 and closing at 529.45 making the week and Upside Week.

With our Trend models we see the potential for a downside move this week then a trend into the week of June 10th. Considering our Monthly Trend Models are targeting June as the High then we should see this Rally continue into the week of June 10th.

Keep in mind that we may see this week be a False Move to the downside to create the energy to thrust the Market up into continued All Time Highs.

For Price Confirmation: Should the week of May 27th produce a new High then expect new High’s into the week of June 10th.

Following the week of June 10th it would appear that we have an Opposite Reactionary Trend moving into the week of July 1st.

As of right now our strongest Target to produce a High in this Monthly Rally is the week of June 10th.

Daily – With our Trend Models we can see that the trend is moving into Wednesday the 22nd with the potential for an immediate high to form either the 21st or 22nd. Thereafter we have potential to move downward into the 24th. Should the Low of the 24th get breached then expect a continued downside movement into the 29th. From there it would appear we would move back upward.

As we move into the 22nd which is our strongest Target now for a reversal in the Immediate Daily Trend we will update with a post.

Summery – The Market S&P 500 is in Full Bull market currently fuelled by Geopolitical risk of war and sovereign debt defaults as capital is flowing into the US Share markets.

Our trend models are showing the potential for a continued upside movement into the week of June 10th with the potential for this week to be a downside event which will create the energy needed to make higher highs.

Expect at least a 10-20 Price Swing in SPY over the next 2-3 weeks.


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