Wednesday, June 30, 2010

1040 support Broke

On May 31st. I wrote that I thought the S&P futures would test 1019 sometime in June. June ended today on the lows for the month at 1024. I was close! Now I'm looking for 977 to 952 in July. On the Dow Jones, I'm looking for a 9000 test sometime in July. We are quickly coming into the August 10th Bradley date. The lowest reading in the past 80 years happens on that date. Look for extreme bearish sentiment and fear in late July / early August.