FOR FRIDAY: (6/22) Trade waiting on Friday OPEC meeting but it bleeds into Saturday so may have wild action on Sunday. Stocks getting more serious about shorts and metals running out of time for new lows by Sunday night or early Monday. Dollar looks lower into Sunday.
SEPT. E-MINI S & P 500
S & P ANALYSIS FOR FRIDAY: (6/22) We were starting to give up on this one but it finally gave a more serious breakdown, printing 2747. If the market is really weak, it should stall under 2755.50 and turn lower to 2733.50 and 2710. The inability to bounce in the afternoon is a bearish sign and our June cycle lows are finally coming in, and now we see downward action into at least Wednesday and probably Thursday. We would like to add shorts but have a huge risk above 2770. Parabolic and key resistance overnight is at 2762-3.
CYCLE SYNTHESIS: Lower into June 25.
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