👀 WEEKLY SUMMARY 20.5-24.5 / FORECAST
📈 S&P500 - 6th week of the base cycle (20 weeks). The extreme of May 17-20 has worked. The DJIA turned around and showed a double top, but ran into strong support. S&P and NASDAQ lingered at extremes above the March level. According to the positions of April 22, it makes sense to tighten the stops. Scenario 1 is in effect with the possibility of a rollback. The next extreme is June 7-10.
🪙 GOLD - 15th week of the basic cycle (15-19 weeks). The extreme of May 17-20 has worked. The cycle is mature in the 3rd phase with a double top. The base of the cycle is formed. The next forecast extremes are June 7-10 (in 2 weeks) and July 1 (in 5 weeks). The reversal will be shown by technical indicators.
🛢 OIL - 24th week of the basic cycle (28 weeks). The cycle is mature. The forecast extreme on May 24 has been met. We have a triple bottom and a daily signal from Friday. U-turn? Don't think. Oil turns heavily, with large tails, so it is better to wait for the weekly signal. The concept is the same. The forecast for June 17-20 or July 1 is valid.
💸 YEN - 22nd week of the basic cycle (25 weeks). The cycle is mature in the 3rd phase. The phase is weak, in 3 weeks it did not reach the range of April 29. I don’t think that the base cycle ended at the beginning of May (in this case, the new cycle will only be confirmed by a breakout of the April top). We are waiting for the base cycle to start in June. Forecast extremes: June 7-10 and July 1.
Comments
Post a Comment