Sunday, June 5, 2016
Weekly outlook June 6, 2016
Moves of 100-150 points on the DOW intraday, but not much change by the end of the week (loss of around 70 points). Practically no change in the SP500 by Friday close. As I indicated in last week's post the down cycles should suppress the 5 week cycle.
During the week the 5 week cycle tops and then we should see a notable sell down for 2+ weeks in to the end of June. May be similar to the sell off we saw mid-Jan to mid-Feb. Time will tell, but given recent economic numbers (retail sales in autos, upscale retail stores and payroll #s) a sell off should not surprise.