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 Monday July 25th and Wednesday July 27th.
Last week the Monday/Tuesday 18th/19th risk window caught the low for the week and the big 750 DJIA point rally.
Last week the bulls were batting 1000 with the 1% Fed fund bump rumor dying, Vlad playing nice and turning back on the gas and letting wheat out for sale, Biden's covid pronounced to be mild, gasoline and other commodity prices falling, interest rates falling across the board and not surprisingly technicians proclaiming that the bear is dead (or at minimum taking a summer hibernation to hide from the heat).
The 38% retracement of the move since the covid low back down to the level of the pre-covid highs on June 17th may just be the bare minimum downside for this "A" leg of the bear market given the extremes in bearish sentiment seen over the last month. My primary EWave count still has the DJIA filling the November 2020 gap to complete a five part "A" wave down which has one more down move, but I must admit if Jerome lilts dovish this coming Wednesday, there really will be happiness in the Hamptons this summer, and my primary count will yet again be toast.