The decennial/presidential and annual cycles worked well as did the usual rally into Financial year end when the year has been poor.
At a rough quess the European news hit us when it was about 4:30 am in Berlin. Does that strike anyone as strange?
I wouldn't mind betting that many understand the significance of monthly readings on charts and what constitutes a new bear market. Like ocean liners they are slow to reverse.
Firstly the tops on SPX and DJIA were 1st trading days in April and May.
The low was 2nd trading day in June.
That and its Gann implications suggest we watch the next 2 days for a turn down. It might be both down and then up!
First 2 days in a quarter are usually good as the result of pension and super inflows.
The dec/pres combo which matches 1992 most recently suggest XJO rally could be over in a day or two but US markets more resilient.
There are many ways of determing trend but standard Bollinger Bands and its 20 sma midline is as good as any.
The first chart is SPX and June has seen it maintain its level above that moving average.
Yes there was a bit of a whipsaw last year AND more worrying is the divergence in price and momentum as indicated.
XJO is sadly on the other side of the average still and makes me believe we may struggle through to Oct/Nov.
Of course fighting a market is like arguing with your missus. It doesn't matter how good your arguement, you know you will lose and the longer you fight the worse the penalty.
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