According to my risk summation system, the day this week with the highest risk of a turn in or acceleration of the current trend in the DJIA is Monday June 7th.
Last week's Tuesday risk window which saw what looked like an important shooting star candle in the DJIA could only drive a measly two day sell off. By Friday's risk window it was off to the races again. Neither risk window last week was much of a risk to bears or bulls.
Given the release of the latest inflation figures by the Helen Keller School of Economics economists at the BLS on Thursday the 10th and since it also hosts a new moon, it probably should be on this week's risk window day list as well. Supply chain problems, pricey commodities and a strangely tight unskilled labor market driven by more generous government handouts should produce eye popping inflation numbers even given the normal BLS fudging. I'm sure the first word out the mouth of every talking head on the business shows Thursday morning will be "transitory", so maybe they'll be able to assuage traders' fears.
This coming week and the week of the 28th of June are also potential important turn weeks in a 72 week cycle that I track courtesy of Tom Hougaard. Even though many of the long cycles that I track have recently had somewhat checkered performances, this particular cycle has had a few important hits over the last couple of years including the February 2020 top. By the time the fireworks have faded, I should know if this cycle also has a flat tire.