Bears should seek a red June monthly candle!

The following issue is something I can't emphasise enough. Those bears who are looking for major declines in July - and perhaps also later in the autumn, should be looking for June to close net-red.


Sp' monthly, scenario

Summary

We're at sp'1355, so far that's 45pts higher in June. We therefore need to see June close lower than 1310. Take a little off that number....call it sp'1305.

The doomster-bears 'should' be looking for sp'1305..or lower..by Friday June'29.

If that is achieved, then the primary target of sp'1150/00 by late July will be on schedule.

My best guess remains scenario B. There are still some who are now looking for A', yet with the FOMC deciding not to do QE3, a continued rise into July and across late summer now seems highly unlikely.

So...I'm seeking sp'<1305, we've 7 trading days left of June to go. It is well within range to accomplish.

Good wishes for Thursday trading.