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»» The Dow & the Panic Cycles ««
By: Marty Armstrong | July 19, 2021

So far, the Dow has continued to follow our models leaving the June high intact coming within 1.56 points of making a new high. The market has fallen to 33,800 level as of this post and we can see that we have technical support at 33488. The fundamental claim for the move is people are becoming concerned about the Delta variant. We still show a Panic Cycle in August for the Dow...

There is also talk in Washington that the Republicans should play the same trick as the Democrats pulled in Texas and just go home to block Biden's $3.5 trillion infrastructure bill. There is no doubt that Biden's spending agenda will not be received well by the financial markets and perhaps that fundamental alone may be good enough to provide the Panic to the downside in the weeks ahead.

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