Another Chart of Interest

Heres a chart from Ibo, one of our followers

This clearly shows what ive written several times

As a trader the hardest thing we have to learn is WAITING

Hadik recently wrote that June8th is the earliest the mkt could turn down,
and expects a bottom on or about the 12th

Ibo's dates concur with the above as do mine, HOWEVER,
****we are both targetting June8th and 17th*********
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CURRENTLY
WE have a market churning at a high at or near the Jan6th SPX high of 934
Dow has been well below its Jan6th high of 9035, but managed to get near 8600.

HIGHS as we all know take time to FINISH all components-- in other words, THEY ROLL
Unlike bottoms which CLIMAX all at once or within a day of each other as indeces
YES, sometimes do a bounce and drop, but thats another story for another time.

My recent comments reflect ibo's chart above, and thus we must be aware of a range bound mkt
until such time as it falls off the cliff's edge,
AND IMO, that will be from June10th to 17th with the
MAJOR EMPHASIS on June 15 - 17 th;

NOW, we have many options to choose from as how to take advantage of that expected dive.

If your a BULL, you can wait till June17th, sell the farm and buy stock
or if a bear, its obvious you want to be short on June10-12
And a trader can catch both sides, short on the 12th- long on the 18th

NOW, the other end of those trades can be relatively short lived, so dont expect a
MOON shot no matter how good it looks come June 24th- this mkt is NOWHERE
clear of the woods for at least 2 more years

remember we are in the WINTER of the LONG
Kondratief wave
which I posted a couple times
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As for this week, Ibo also see's a high on the 55 td cycle on the 26th,
and IMO, intraday of the 27th with a possbile run on spx 940 thus
failing an attempt to break out above the Jan6th high.

May 26-27 = 55 tr days from March 6 & 9th (LOW TO HIGH)
the intertia high was 7days later which now = June4th
IMO< translates to June 3rd ,which is an 8day turn date for me.
June3rd date has come up frequently with Tim McCarthy also
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BUT for now we must LEARN to TRADE the mkt,
& not sit on our long or short positions.

More Later
Jay