FOR MONDAY: (6/11) The G-7 meeting in Canada runs over the weekend with fireworks expected, and we’ll see how markets are impacted. They may wait until Sunday to explode one way or the other. Hard to imagine Trump backing down but is that positive or negative for the dollar? Stocks cycles do point lower from Wednesday, June 13 into June 18 but will the trade try to make a divergent high first? We’re completing research through late July and are clear on the next week but always a congestive mess and surprises with FOMC and ECB this week so it boils down to gambling unless patterns and cycles are really clear, and there are some places that is true.

SEPT. E-MINI S & P 500
S & P ANALYSIS FOR MONDAY: (6/11) Stocks held up better than we expected. Our stop held but we’re going into Sunday, which is often vulnerable. We can use a slightly higher stop, as we do expect an early week low before FOMC. We’re counting on the typical 35-50-point pre-FOMC retracement on Monday but we’re also dealing with a cash pattern that may lead to a divergent high.

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