According to my risk summation system, the days next week with the highest risk of a turn in or acceleration of the current short term trend are Monday the 8th and Wednesday the 10th of June. If the downward movement which started Friday morning in the hourly DJIA continues in the Sunday and Monday morning after hours trading, I assume the risk window this coming Monday will tag a low of some sort in the DJIA.
The risk window last Monday the 1st looked really good on paper but turned out to be a complete dud. The risk window Thursday seemed to be identifying a top, but not so given the Friday blast off during that risk window which may yet prove to be a top depending on the action this coming Monday the 8th. All in all a pretty lousy performance this past week by the risk summation system.
The DJIA finally broke through its 200 SMA Friday which probably added fuel to the rally fire and pretty much turned any remaining short bears into fur coats just in time for summer.
Regards,
Douglas