The Lord’s Prayer
Our Father, who art in heaven, hallowed be thy name. Thy Kingdom come, Thy Will be done, on earth as it is in heaven. Give us this day our daily bread and forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but deliver us from evil. Amen.
7:45 am
Good Morning!
NDX futures rose to 21783.50 over the weekend session, but it has stalled short of a new high. Wednesday marks the secondary high, leaving analysts talking about a double top. Stock buybacks are being curtailed today as earnings season approaches. Insiders are selling at a breakneck clip and retail investors have begun to leave. To cap it off, pensions begin rebalancing today as quarter-end approaches. The setup is ripe for a correction. The Cycles Model suggests a decline may be probable lasting through mid-July.
SPX futures have risen to 6016.10 thus far as the Cycles Model suggests a brief touchback at the trendlines between 6020.00 and 6040.00. The SPX may remain relatively calm, although in decline, for the next week or so. Panic may set in toward the last week of June and the first week of July. This decline may be steeper and deeper than the April downdraft.
Today I am scheduled elsewhere. I may return later with more reports.
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