Home > Stock Market Strategy, Stock Market Timing > WALL STREET CRAPS STOCK MARKET STRATEGY JUNE 16, 2020

WALL STREET CRAPS STOCK MARKET STRATEGY JUNE 16, 2020

June 17th, 2020

craps front coverSTOCK MARKET STRATEGY FOR JUNE 16, 2020: The stock market made a sharp move downwards on last Thursday and has recovered much of that decline over the last 3 trading days. This sets up the possibility of a Classic Dow Theory and Granville Non-Confirmation sell signal on the next closing high in the Dow Jones Industrial Average. This new unconfirmed high could mark the end of this powerul rally since the March 26th bottom.

Key underlying short-term timing indicators show the following:

***********

THE BOTTOM LINE: The stock market is setting itself up for a possible sell signal on the next closing high in the Dow Jones Industrial Average. That new high would be unconfirmed by the majority of other indicators and particularly the Dow Jones Transportation Average which would need to rally substantially in the next few days. Note: The next closing high may even have one or two additional days to the upside with each day being progressively weaker and more selective.

Be Sociable, Share!
Comments are closed.