According to my turn probability summation system, the days with the highest likelihood of seeing a turn in or acceleration of the current trend in the DJIA are Monday June 29th which might be part of a larger window extending from last Friday the 26th and Wednesday July 1st.
Last week the Thursday noon thru Friday the 26th turn window shown in red in the marketwatch.com plot excerpt below may have tagged a low of some degree early Friday morning. I suppose action this coming Monday will determine if that low or the high a couple of hours before the turn window early Thursday morning was more important.
It's not clear to me which of the two indicators on the NY Composite plot below is more important right now. The number of stocks above the 50 day average is declining and diverging with the index, but the AD line is in sync with the index heading higher. One of them is wrong. Heck if I know which one.
Warsh hits the speaking stump this coming Wednesday. Given the dearth of info on exactly what he plans to do, what he says could move markets especially given Wednesday is a turn window. The renewed shooting in Iran is the other obvious potential source of market moving news this week with the ceasefire pretty much deceased. Of course, with the dog days of summer rolling in with Sirius rising with Canis Major and Canis Minor in the mornings starting late this week, maybe nothing will move the market too much in any direction.
Regards,
Douglas
