FOR TUESDAY: (4/17) While we did not get peace the situation did resolve for the market to go up, which was what the cycles had suggested. Stocks may retrace on Tuesday but then be higher into the end of the week. Gold looks higher a few more days; oil looks in trouble for a few days and the dollar lower into Wednesday.
JUNE E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR TUESDAY: (4/17) We hit key resistance at 2685 and market probably won’t take out 2690 and reach back 17 points before reaching up to 2705. We have 3 cycle lows due on Tuesday but it may be a very brief pullback and continued upward action likely into Wednesday and Thursday. Day-traders ca probably get away with selling but swing traders will have to come in if pullbacks are modest, as higher prices are coming. The most likely pattern is that this is a 3rd wave in “D” wave and that it will stop at 2705-12 and be followed by a modest pullback.
CYCLE SYNTHESIS: Retracing Tuesday; higher into Thursday.
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