EVERBODY READY FOR MONDAY??????   SNORT

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the smh looks like it did 5 waves down off of the apr 24 top

i think we are in an abc correction now which should go back up and hit the 50

if it hits the 50 and gets rejected and then takes out 97 on the downside

there is a good chance we are in a wave 3 down on the smh 

the rest of the market is not as clear 

all fwiw 

 CNBC:

Morgan Stanley economic indicator just suffered a record collapse

The Morgan Stanley Business Conditions Index fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record.

The 2008 SPX decline seemed to lag this indicator:
 

 

Rogerdodger Posted 04 June 2019

(October may not be fun for bulls...?)