FOR MONDAY: (5/14) Upside patterns on crude and stocks could get realized Sunday night and part of Monday but we should get a pullback into at least Wednesday. Not expecting the end of the world for any markets but they are overblown from this week and pullbacks would be healthy.

S & P ANALYSIS FOR MONDAY: (5/14) Still a chance to get up to 2742 on Sunday night but the chances lessen if it doesn’t happen by Monday. Cycles look lower into at least Wednesday but not exactly expecting a meltdown next week. Pushing through 2717 would start to set things moving lower but need for 2700 to come out. Three waves up from the 2550 area would project 2769 ideally. Possible it could happen by May 22. Lately, the seasonals have turned later past May and usually turn lower after the 2nd week of June.

Comments are closed.