According to my risk summation system, the days this coming week with the highest risk of a turn in or acceleration of the current trend in the DJIA are Tuesday/Wednesday July 5h - 6th and Friday the 8th, pretty much the whole danged week. I do realize saying something will happen on one of three out of four days next week is pretty useless, but it is what it is.
Last week the official July 1st risk window did see a higher low and a trend line breaking rally whose importance will depend on action early next week, but the actual low and closing low were on Thursday, so this risk window is not exactly a dud, but not exactly a direct hit either. The cloud of risk that I noted early in the week saw a top roughly in its center the importance of which, again, will have to await early next week action.
The importance of the Brent Crude 24 - 27th June turn call, yet again, will depend on crude's action early next week, since it was declining late in the week in a test of this turn.
The next read on US inflation comes out on July 13th and 14th and is likely to have a big impact on interest rates, the stock market and the US dollar. I also track several long term weekly stock market cycles that turn that week, and the full moon is on the 13th, so with this much mojo, it certainly looks like the middle of the week after next may be quite pivotal.
Regards,
Douglas
Edited by Douglas, 02 July 2022 - 11:29 AM.
