This past weekend marked the beginning of summer also known as the summer solstice. Under normal circumstances, in my line of work means most of the time (we work on probabilities and common sense), we should see a turn in the market.
Since today was the first trading day following the summer solstice, we can’t depend on the light volume, tight range and boring market to give us the ultimate clue about what happens next.
What we do know based of course of common sense technical analysis, is that this market is not due for a major cycle turn for a little while, and we can still see higher prices before lower ones.
Our long swing trades have been great, our short trades have been few and far between. Members will be looking out for a shift in the amount of short swing trades that are issued as we get closer to the upcoming market pivot in July.
Normally I do a video each night that goes over the markets at a high level, what I’m seeing now and what I expect to see in the near term.
Today was so boring that the video would be a carbon copy of Friday’s analysis, so I thought I would spare both of us the repeat performance.
Back tomorrow with another episode of common sense technical analysis.