Market Direction and Stock Trends

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»» The S&P500 On the Close ««
By: Marty Armstrong | June 18, 2022

Everything appears to be on target. We should expect a new low on Monday, and the main support is in the 3500 level on the S&P500. Ideally, this week's closing may prove to be the low on a weekly closing basis and then we get a bounce. We will look at the low and project the resistance for a bounce. I remain concerned about mid-July and the August/September time period, Besides the mid-term elections, I am concerned about the Democrats looking to create a false flag in Ukraine in hopes of a diversion to retain seats. There are also real discussions of Trump perhaps moving to throw his hat in the ring for Speaker of the House. Anyone can run for that position. You do not need to be the majority or a member of Congress. That would certainly probably fulfill our Panic Cycle in politics.

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