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S&P 500 Forecast - June 23rd Market Report

|Includes: DowDuPont Inc. (DWDP), IBM


The markets should grind lower to the 1566 area before rising higher later in the week to finish out the quarter. Officially if the market hits near 1566, then Phase C down has completed and the market should grind higher, but look for a possible extension lower next week if any of the US economic numbers come in healthy. This will fuel the speculation that the FED will start to taper later this year. I will be buying into any decline lower than 1566 in anticipation of the upcoming rally to hit 1750 later this year. I will be watching the FTSE to see if 1566 is the low as the FTSE is already close to its lower support range.

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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.