McClellan Summation Index

The market is turning back down from the top of the range, I'd like to see if the SPX VST support 4210 can hold or not today....................

Edited by redfoliage2, 07 June 2021 - 10:37 AM.

Good news is the VST support held yesterday, but there will be a crucial test tomorrow - If tomorrow's CPI exceeds the expectation we are likely to see NAZ to gap down 200 points and SPX to gap down 50 points right at the open .....................

On the other side if CPI data is benign there will be a big gap in the morning.  Either way I expect a big move tomorrow depending on the CPI data ..........................

CPI out and the market looks happy with it .............................

10-year bond yield dropped below 1.50, bullish for stock market.............

10-year bond yield dropped below 1.50, bullish for stock market.............

Fed early morning manipulation

 

10-year bond yield dropped below 1.50, bullish for stock market.............

 

Fed early morning manipulation

 

Various interest rate sensitive advance/decline lines say otherwise....break of 1.50% support on the 10 year is significant.

Fib

ST upside target SPX 4275 .....................

Edited by redfoliage2, 11 June 2021 - 08:48 AM.

I see this early dip will be bought later today as we are still in a buying dips market environment  .............................

Edited by redfoliage2, 11 June 2021 - 10:31 AM.

After all,  this market is currently reluctant for big moves till or after the Fed meeting June 15 - 16.............................

Edited by redfoliage2, 11 June 2021 - 11:42 AM.