FOR WEDNESDAY: (4/18) Cycles are friendly the next two days and we doubt the bears will easily take back control. Gold seems higher into Monday and the dollar lower and oil looks higher into the end of the week and Monday. We need to buy dips on stocks and crude and sell the dollar.
JUNE E-MINI S & P 500
S & P ANALYSIS FOR WEDNESDAY: (4/18) Market didn’t give us the 17-point correction and is projecting 2748.50. Cycles are friendly and if we did hit 2698-2702 overnight, it would be a gift for a buy. The 2713 region was a minimum target and 3-wave completion, and we really want to see 2717 print to confirm the higher numbers; otherwise, we have just seen a 3-wave bounce off of the April 2 low. The real issue is that the market didn’t pull back at all today and has 2 solid days to hit 2748 or higher so we should be buying in the night session.
CYCLE SYNTHESIS: Higher into Thursday.
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