Friday June 23


SPX - We are really well along in the entire intermediate cycle, so I would expect this daily to top and become L.T. and begin to drop. We are overdue for an ICL, but these markets have just been pure bullish.

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Thursday June 22 – BOUNCE?


This was my IBB Weekly chart on June 20th.  It is breaking out in bullish manner ( It hit 316 yesterday) and has the potential to get to 330 in a few weeks. The daily chart could back test the break out or it may just bull flag and continue higher.

I will discuss this further later in the report.

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Wednesday June 21


So far, The SPX has put in a swing high every 4 days or so,  🙂   and here we see another one.  Since we  are getting late in the intermediate cycle, and since we are on day 22 of the daily cycle, I am watching each swing high as a possible top.  A break of the lower  trendline could escalate the selling, so my stop would be below that.


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