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Ideal Top: Tuesday June 10 at SPX 1960. Targets 1755-70 by August 13

Posted on the 06 June 2014 by Souljester @souljester618
This move above 1920 suprised me. Given that we have pierced the 138.2 fib resistance, I am taking the end of the bull market scenario off the table. It is still viable, I suppose, but that fib resistance was sliced through enough that I no longer trust it.  

That puts me back to where I was, which was anticipating a a move to the 1700s.  I have run the simple ABC swing pattern. The ideal top is Tuesday at 1960. We could top sooner, but that is the ideal. From there, I am looking for a move to the 61.8 fib support by August 13.  I expect weakness into end of June per prior cycle work, so that will be a decent time to reassess.

Here is the Daily SPX swing chart:

Ideal Top: Tuesday June 10 at SPX 1960.  Targets 1755-70 by August 13

There is always a bull path and a bear path.  We cannot know which path our future will choose. As always, do your own due diligence, read the disclaimer, and make your own investment decisions.

Hope your summer is going well.  

Peace, Om,

SoulJester

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