FOR TUESDAY: (7/10) Stock traders are on steroids now so don’t be surprised if they just run things up for fun because there is no other game in town. Can’t ignore technical breakouts and the look of charts. S & P could break 30 points but if it comes from 2820, it won’t mean much. Summer fun is here!
SEPT. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR TUESDAY: (7/10) Hard to imagine the S & P running much through 2798-2800 quickly but if it does, then 2820 will come in more quickly than we’ve imagined. One pattern projects a 30-point correction before higher prices but it seems more likely to come on Wednesday. Cycles are still positive with the cycle inversion over the next few days pointing higher. We’ll assume positive movement until at least July 18. Watching 7597 on NQ futures as a potential July target.
CYCLE SYNTHESIS: Topping Tuesday then 30-point pullback; higher Thursday; generally higher into July 18.
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