FOR WEDNESDAY: (6/6) Stocks cycles are running out of time and energy. Often, the market will top out the first few weeks of June. Divergent high for NQ the next few days should be the beginning of the end for the summer so bears should start to salivate. For now, the bulls will stay in control a few more days.
JUNE E-MINI S & P 500
S & P ANALYSIS FOR WEDNESDAY: (6/6) We did get filled and went into profits nicely but didn’t hit our first profit-taking target. We’re ok being long on Wednesday but by Thursday we will tighten stops, as it seems like a transition day. Technology and NQ should still be stronger than the S & P with NQ having resistance at 7189. We would watch NQ’s lead. Double-top at 7227 likely but new highs possible here for divergence this week. Much below 2630 and something bigger may be starting. Cash closed at 2746 and projects 2754 with key cash support at 2739 and 2730 having parabolic support.
CYCLE SYNTHESIS: Generally higher into June 6-7.
