Alternative Reality

[gdl]

My timeline of 6/6 remains intact. That's only 5 trading days away.

Current breakout appears to have momentum and has ignored inflationary data.
I will let the market on Tuesday dictate the move till 6/6.

Bull case: next 5 days has to be strong and no more than ONE trading day to be lower and that also can't be a deep drop. Target is unknown but maximum can get to 4650 area as unlikely as it sounds.

Bear case: next 5 days has to show deteriorated momentum immediately. That suggests a small up move at best on Tuesday and the next 4 days after continued and accelerated weakness.

If 6/6 is an important TURN DATE we either have a peak counter move then or a drop below 3840.

These are the ONLY 2 scenarios I can see. next 5 days should be explosive or fizzled out quickly. Take your pick.
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OIL is the ONLY commodity that is near a breakout price at 115. It can surge to as high as 140 area. o idea if it does breakout but any move from here better be lower.

Inflation data is dead ahead and thi economy is showing strength still. new homes sales was hurt by material shortages only. Resales are near record highs and the turnover rate from placing a biome to selling it is 15 days, a record.

We might get the 10 year note, which is in insanely low yields to spark higher next week and even break 3.24 from 2.74 it is today. The dollar has dropped to 101 and that also is likely to spike higher. they should ALL move in sync next week IF we do get strong economic data.