S&P testing support

The S&P closed the week on the 21 day moving average (the yellow line on the chart). It was down 5% this week, which started on a full moon. Back in March, when the index went above the yellow line, it has stayed above it(21ema), during this 2 month rally. If it goes below this line, that will trigger a short term sell signal, and next support will be at 850/825. If we stay above this yellow line, the rally will continue to 935/950.

Gold at Resistance

Gold hit the Monthly R1 pivot today and filled an open gap from April 1st. at 928.

Oil at resistance

Crude oil is close to monthly R2 at $60.28.

Bradley Model

The 2009 Bradley Model said this rally would start on Feb. 8th., it missed it by a month. This rally started on March 9th. It did get the scope of the rally correct and says we will top out on July 14 or 15, give or take a few weeks, maybe even a month again. Then it says look for a 50% pullback mid to late summer. I have been using the Bradley Model for years and is uncanny accurate. I have also noticed that IF the market is going to change direction, it usually happens within a few weeks of Quad Ex(Mar, Jun, Sept, Dec options expiration).

Beware of the Full moon

We have a full moon this coming Thursday/Friday. How many times have we seen the market change direction around a full moon? More times than I can count!