Financial markets turning on convergence of key time/price indicators

June is a pivotal month

A couple of sidebars worth mentioning. As the seasonal change point can be one of the key pivotal turns of the year, this can’t be good for the incumbent trying to get another 4 years. A loose estimate suggests that the President needs to see the market bottom 60 days before the election to have a chance. Think about this, even with a VIX near 18 the newsfeed is mostly negative from one day to the next. If it’s not Facebook, it’s JP Morgan. If not Morgan its Greece. If not Greece its Spain. If not Spain it’s the unemployment rate or the fact that Congress shows little interest in doing anything. If not Congress it’s the Fed pushing on a string. If it’s not that, then we can talk about the new perceived Islamic threat in Egypt which may or may not choose to turn back the clock on Israel to the days before the Camp David Accord. With all this bad news, why won’t the markets bottom? Simply put the intermediate term trading sentiment does not match the long term gloom. With a newsfeed like this, imagine what fear levels would be like and what news event might materialize to actually get the VIX up to 30. To be honest with you, I don’t even want to think about it. But unfortunately we probably have to find out in order to get a true market bottom. I’m only the messenger and would much rather write something bullish.

My goal next week is to have some good news for you. Maybe the Dollar will be repelled at the megaphone. It would be nice.

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fibonacci, financial, chart, technical, analysis

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About the Author
Jeff Greenblatt

Jeff Greenblatt is the author of Breakthrough Strategies For Predicting Any Market, editor of the Fibonacci Forecaster, director of Lucas Wave International, LLC. and a private trader for the past eight years.

Lucas Wave International (https://www.lucaswaveinternational.com) provides forecasts of financial markets via the Fibonacci Forecaster and other reports. The company provides coaching/seminars to teach traders around the world about this cutting edge methodology.

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