With the US Dollar potentially hinting at further weakness, the big question I have just now, is what comes next after a monumental start to June?
What can we expect to see going into month end and what are the charts telling us?
SPDR S&P500 ETF (SPY)
We’re now single digits away from all time highs, I’m sure many of us are floating into a long weekend for US Markets.
The breadth expansion I’ve been banging the drum on for the last couple of weeks is taking shape but observing 500 stocks just isn’t going to give me the answers I need for what potentially comes next.
Bears are now under water and slowly but surely, one by one, they’re capitulating.
This morning I’ve moved through thousands of charts, as I do every weekend.
I do it because it gives me a true picture of the global market, (I enjoy my work immensely so don’t feel bad for me). and the word I find myself saying over and over inside my head is R.O.T.A.T.I.O.N.
If you speak to investors from across the world like I do (our clients/members) ,from the US, to Canada, to Argentina, to Chile, to Germany, to Singapore, to Hong Kong, to Australia and everywhere in-between, everyone and their dog is calling for a major corrective phase.
Nobody thinks stocks will keep going higher.
While I’m perfectly open to the possibility stocks could correct (they usually do once a year anyway), the charts currently lead me to a different thesis.
So I’ve laid out a bunch of key levels in the market, plus some stocks and ETF’s via our YouTube channel this weekend.
I’m sure you’ll find something of value within.
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