Short Term CIT forecast Update
The last forecast made on June 13th stated, "So far
there is no change in the forecasted cycle lows today, June 13th &
July 6th with a bounce in between. This bounce may find itself ending
around June 23rd +/-"
Since June 13th the market bottomed that morning and then rallied to June 23rd +/- as the cycles suggested. It
then proceeded to sell off, and the futures are indicating a lower open this morning.
Following cycles has been good to use as a guide or potential future
road map, but, other tools must always be used to confirm any forecasted
cycle trends.
UPDATE
So far
there is no change in the next forecasted cycle low
July 6th +/-
But, cycles indicate that there may be some kind of counter trend action between June 26th and July 4th.
Since cycles can not distinguish between trading days and calendar days, the cycle dates may come out on Holidays or weekends. So the dates suggested that do fall on such days are to be used as a window. All other days are still noted with a "+/-" because the cycle dates are not always as perfect as we all would like them to be. Although they have been pretty accurate.
UPDATE in the Intermediate Term forecast
Intermediate term cycles are currently pointing down into July 2014 - August 2014 +/- and may even extend further out in the 3rd and possibly the 4th quarter 2014.
So this may prevent some rallies from materializing, but if they do
occur, some investors may take advantage of these rallies and sell into
them.
We continue to witness this type of action.
This
has been posted for Educational Purposes Only. Do your own work and
consult with Professionals before making any investment decisions.
Past performance is not indicative of future results.
