June 11 High in Sight

It was an up trending day on Monday as the bulls have made a qualified break of the TD Supply line (shown by a downward sloping red dashed line on the chart). If confirmed today (on any print above 951.62) it projects to 1020.56! The next TD Trend Factor target lies at 968.68. Note also that the swing chart has turned back up and we’ve made a qualified break of TDST resistance (horizontal red dashed line). Let’s see if the bulls can make the final assault on the June 11 high today.

In my cycle work a break above 956.23 (June 11 high) implies the rally that began in March will last at least until the Autumnal Equinox. My bearish view will be abandoned on a move above 956.23.