sp'weekly
sp'monthly
Summary
A tag of the upper bollinger on both the weekly and monthly cycles looks very due within the next few weeks.
Maybe we'll max out around the FOMC of June 17th.. or this will drag out a little beyond the July 4th holiday period.
In either case, a sig' wave lower does look probable later this summer/early autumn. Right now.. anything under the Oct' low of sp'1820 looks almost impossible. Instead, a decline from 2150/2200 or so... down to 2000/1950 looks far more realistic.
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USD continues to cool
USD, daily2
A straight up run to new multi-year highs (>100.71) appears unlikely in the near term. Instead.. continued cooling to the 92/90 zone looks more probable.
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Looking ahead
Thursday will see the usual weekly jobs report, productivity/costs, and the latest Nat' Gas inventories.
*Fed official Tarullo will speak at lunch time, although I'm doubtful anyone will be listening (Dudley on Friday will be far more important).
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Goodnight from London