Dow Jones chart

The DOW Jones ran into resistance at the 200 day moving average(white line), and last week broke the 2o day moving average(yellow line) which has been support for the past 3 months. It now looks like the 20 day(8600) will be resistance and the next area of major support is the 50 day moving average(blue line) at 8375. This week, I'm looking for the 50day to get tested(8375-8400) and then a bounce back up to the 200 day (8850-8900), as we enter the end of month window dressing period. A close below the 50 day(blue line) would be bearish!

S&P yearly pivots

The S&P came very close to it's yearly S1(pink line S1) pivot last March at 640. Now after a 40% bounce, it's close to the yearly pivot point at 1003(yellow line). That's been my target since this rally started. It's also 50% off the March lows (666 +333=999). This is why I feel this rally will end in the next 30 days and then we will retrace 50% of the rally (333 / 2=167). The pullback could bring the S&P back down to the 825 to 850 level by September, where we still have open gaps. Raise cash if your long in the next few weeks or hedge them with options or inverse Etfs.

Dow Jones chart

the Dow hit resistance last week at the daily 200ema moving average(white line). Yesterday, the Dow pulled back to the 21 day moving average(yellow line), which has been support for the past 3 months. If that yellow line breaks support, then look for support on the 50 day moving average(blue line). I'm looking for this 3 month old rally to end in the next 30 days and then a 50% pullback of the rally into this September.

DRYS

DRYS is back to the 50 day moving average(blue line). Notice how it held there a few weeks ago. Use a stop below the blue line.

Dow at the 200 DMA

The Dow has been testing the 200 day moving average(white line), the past 2 days. The Dow has not seen the 200 dma for 13 months, so chances are it will fail on the this first test. We have a full moon coming up this weekend, so I'm looking for a reversal to start any day, that should carry us into Quad expiration on June 19th..