Short Term Update

After the cycles suggested an move up into June 10th the forecast was for some consolidation or pullback into June 11-12 +/-, which came as forecast.

It is possible that today's volatility "might" carryover to Monday.
Monday's on many occasions have inherited Friday's volatility. 

ZACKS on Monday Volatility
Monday volatility captures most observers' votes, as it follows two days of market inactivity. Many corporations make earnings and operations announcements after the Friday market close to mitigate the stock price effects of major public or shareholder information. The two-day inactivity period, regardless of major announcements, alone also contributes to increased investor activity, generating more volatility and trades. Weekend announcements of earnings, executive changes, mergers and acquisitions further increase volatility and activity.

JustSignals comments
Another observation has been that the market direction for the rest of the week, sometimes, has been in the opposite direction as that weeks Monday.  So, if Monday opens down or is down for the day, then one "might" expect the market to move up by the end of the week.  One explanation for this is that after a weak Friday weak hands are selling on Monday while the strong hands are buying and then take the market higher by then end of the week.

This scenario would fall in line with the current short term cycles view for some more upside into June 18-19 +/-.
  
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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