Thursday, June 3, 2010

SPX's Short Term Wave 1 Upcycle May Peak Tomorrow


SPX's (S & P 500, http://bit.ly/i0nsT) Short Term Wave 1 Upcycle May Peak Tomorrow, Dramatically Rolling Over versus the 1103.52 cycle high, of the Monthly Upcycle since 5-25-10 (likely Monthly Cycle Low at 1040.78 on 5-25-10), see Daily View chart one at http://bit.ly/i0nsT. There's a significant chance that the ENTIRE upcycle since 5-25-10 will peak tomorrow 6-4 (meaning that it's not just a Wave 1 move), when the important Monthly Employment Report is released before the open. I'll have to see what tomorrow's action, daily candle, volume, VIX, breadth, lead indicators, etc look like.

An SPX (S & P 500, http://bit.ly/i0nsT) Short Term Wave 1 Cycle High will probably occur shortly after the 1115.05 upside gap/magnet gets filled. I'll be looking to trade short via the SH ETF after the 1115.05 upside gap/magnet probably gets filled (1157.43 is the next upside gap/magnet), see 5 day chart http://bit.ly/3qGxf3.

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