Stock Market Focused on late-June
05/25/16 Weekly Re-Lay Alert:
“Stock Indices fulfilled the intermediate outlook for an initial decline from April 19/20th – the latest phase of a 19–20 week low-high-high-high-(high) Cycle Progression in the NQ-100 & corroborating cycles in other Indices – into May 16–20th.
The DJIA bottomed at weekly & monthly support before bouncing. That reinforced the potential for an initial bottom in line with daily & weekly cycles. That was expected to spur a brief rebound – from the May 19th lows – and be followed by a new decline…
The key levels to watch are the weekly LHRs (intra-week extreme upside targets) at 17,998/DJIA, 2100.5/ESM & 4483/NQM. Those objectives – in the S+P 500 & Nasdaq 100 – overlap monthly resistance.
The DJ Transports are also helping to identify when a secondary high is most likely. They finally spiked above 7,730/DJTA and could see a high on [reserved for subscribers]…
As long as the Indices do not give weekly closes above their April 19/20th peaks, the outlook remains for an overall decline into late-June… with the final weeks of that decline being the most vulnerable to a sharp sell-off.” Expectations for an overall decline from late-April into late-June remain intact, with a sharp 2–3 week sell-off likely, leading into potential late-June cycle low. Watch June 23rd Brexitvote for corroboration.