Saturday, June 14, 2014

Week of June 16, 2014 outlook

Appears that the pullback that started Wednesday should continue for 7-8 trading days as the pullback  continues.  The low  should be under 1900.  Here is a visual:

If we overlay fibs on a time basis (0, 1, 2, 3, 5, 8, 13, 21, 34. ...) we see confirmation of a low in about 8 days:

GL traders

1 comment:

  1. Well, if we break under sp'1900 in the near term, that would cause all sorts of problems for the equity bulls.

    Price action still does not favour the bears, it took them almost a full week just to drive the market lower by -1.5%. Not exactly inspiring.

    Some cycles are suggestive of possible weakness, but with Yellen on Wednesday, and quad-opex on Friday...I still have to think the bulls are going to manage another push higher.
    Have a good week.