My turn probability summation system predicts that the window this coming week with the highest likelihood of seeing a turn in or acceleration of the current up trend in the DJIA stretches from Tuesday May 26th through the morning of Wednesday May 27th.

 

Last week the Wednesday the 20th turn window shown in red on the marketwatch.com plot below caught the meat of a turn up which began a couple of hours earlier on Tuesday, so not quite the hourly low, but the daily one.  The Friday the 22nd turn window may have tagged a top, I suppose entirely depending on what flights of war ending fantasy the POTUS publishes over the holiday weekend.  Looks to me like Iran has him over a barrel, a barrel of oil that is.

 

 

This funny money pumped market is so strong that the bearish divergences that I showed last week are bearly there, pun fully intended,  with the Volume AD healing making a new high like the index.  The AD line is still in divergence, but probably not for much longer if this rally keeps rolling on.

 

 

At least the Hindenburg Omen that I mentioned last week finally gave a sell signal (+3), but as you can see below it can be very early and sometimes just dead wrong, but I guess it's at least something I suppose for dyed in the wool bears to cling to in this crazy bubble. 

 

 

And finally with no Fed meeting this month and a new chairman, the only clues about policy available are in the numerous speeches being made by the governors, and they appear to be all over the map with doves and hawks.  I suppose a better guide to what's going to happen in June is probably the traffic through the Strait of Hormuz.  

 

Regards,

Douglas

 

 

 

 

 

 

 

 

Pakistan Army Chief Asim Munir called off his trip to Iran as Iran supreme leader ordered not to let its enriched uranium leave the country.  Pakistan Army Chief Asim Munir is acting as a key go-between in tense contacts between the US and Iran, but reports say Munir will visit Tehran only if both sides first settle a final framework formula. The condition-based trip highlights how fragile the talks remain

 

Exclusive: Supreme Leader says enriched uranium must stay in Iran, Iranian sources say | Reuters

 

It looks without military actions Iran won't give US the enriched uranium as US demands .................................. 

The parabolic phase of the greatest bull market in history is still well underway. Bears were thrown a rare bone but failed to do much with it as they were swiftly rug pulled. The recent healthy 3-day, 2-3% correction ended as quickly as it began, doing its job perfectly: resolving overbought technicals, flushing out weak hands, and getting plenty of traders beared up. Its amazing how many bears crawled out of the woodwork to call for tops, crashes, omens, and doom and gloom scenarios over a routine, shallow pullback. Folks were aggressively shorting, buying puts, and writing calls, all in hopes of nailing THE TOP. I hate to break it to them, but resisting the greatest bull market in history is a futile endeavor.

Ive mentioned before there will be minor dips along the way, but the underlying bid to this market is a force to be reckoned with. All dips will be bought. I would only be somewhat concerned if we see a correction greater than 5%, but the likelihood of that happening anytime soon is extremely slim.

Bears have been warned: New highs are imminent! The trend has been up, continues to be up, and remains up until proven otherwise.

Watch the sky, 😄

The parabolic phase of the greatest bull market in history is still well underway. Bears were thrown a rare bone but failed to do much with it as they were swiftly rug pulled. The recent healthy 3-day, 2-3% correction ended as quickly as it began, doing its job perfectly: resolving overbought technicals, flushing out weak hands, and getting plenty of traders beared up. Its amazing how many bears crawled out of the woodwork to call for tops, crashes, omens, and doom and gloom scenarios over a routine, shallow pullback. Folks were aggressively shorting, buying puts, and writing calls, all in hopes of nailing THE TOP. I hate to break it to them, but resisting the greatest bull market in history is a futile endeavor.

Ive mentioned before there will be minor dips along the way, but the underlying bid to this market is a force to be reckoned with. All dips will be bought. I would only be somewhat concerned if we see a correction greater than 5%, but the likelihood of that happening anytime soon is extremely slim.

Bears have been warned: New highs are imminent! The trend has been up, continues to be up, and remains up until proven otherwise.

Watch the sky, 😄

paint job they wouldn't have ven got a doji. Rally is losing conviction. (JMHO)