FOR THURSDAY: (6/14) Cycles turn more volatile on Thursday afternoon and thinking a cycle low into Monday for stocks. ECB craziness is often worse than FOMC craziness so we’re a bit gun shy and have to focus on key patterns and numbers and cycles. We have gold lower for a few days, which means that the euro may come off.
SEPT. E-MINI S & P 500
S & P ANALYSIS FOR THURSDAY: (6/14) Market sold the FOMC report. Often, Asia and Europe catch up overnight and you have to get short in the night session or miss the boat. The exception is on Thursday with ECB and cycles turning more negative on Thursday afternoon. If the market were closer to 2802, it would be easier to sell. When we look at cash pattern, a move to 2760 there would be a 4th-wave, and the equivalent is 2766-67 on futures so we can get that overnight or on Thursday. The issue is whether the extended pattern to 2802 on cash or 2811 have any chance to push futures to 2807 or 2813. We don’t see it in the cycles and want to get short. We are in SDS for short in our ETF Timer.
CYCLE SYNTHESIS: Lower into Thursday/Friday and Monday.
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