The current wave up is likely coming to an end on Tuesday. The hourly shows a bullish pennant formation, which means to me that a squeeze play is coming to the upside. The 4 month cycle low looks to terminate around July 1 (Mars opposing Saturn). I don't see anything at this point to suggest anything more than your garden variety pullback: about ~5%, albeit choppy but playable.
There seems to be too much liquidity in the system to suggest anything more than this, at least at this point in time. The big test will be the expected rally into July 14/15. If we have the garden variety pull back into the full moon of July 23 like we had Mar 17-25, I think we are going higher into August and I mean August 13 and 4500 SPX!
Time will tell, but this bull has fooled a lot of people, including me with its tenacity. At one point, there will be a crash I'm sure. Benner's Cycle (1987-2003-2021) suggests one may occur this fall on the FIB 34 year cycle (Benner's Cycle 16+18). I've been talking for some time that a 40% drop looks likely this year and we may very well get one this fall. Time will tell, but for now, I'm rolling with the punches.
Bottom Line: an ending degree wave rally should occur into June 15. It should get up into the 4268-73 SPX range at the very minimum (current thinking 4268).
All the stats I'm reading suggests a tightening of interest rates in August as inflation is becoming a problem. The sentiment is overly bullish in some ways, but not in others. I don't see the proverbial pin that can break this market momentum just yet (besides a 5% pull back). Prove it to me!!
The astros are the same basically that we had in February 2021, that is Saturn square Uranus (like Feb 16/17), but this time we have the Sun conj., Mer R/Moon to add into the mix down into Mars opposing Saturn July 1: the 4 month cycle!
Remember that a lot of these astros have longer time frames too! The key is to find the cycles and mix them with the astros. Sometimes the astros predict dire events that the economy just ignores: as they say 'the stock market climbs the proverbial wall of worry'....... then they all come tumbling down
Trade Safely
blu
