Below is an excerpt from our latest updates posted at 1:15 AM EST Thursday 6/11/20.
Our members had lots of warnings since 6/9 about the impending end of Bounce6. At 1:15 AM Wednesday 6/10, we wrote:
These indicators are telling us that Bounce6 is likely to end. For short-term positions that have been riding Bounce6 up, the prudent move is to consider locking in profits.... The most likely move after Bounce6 ends is for $SPX $NDX IWM to snap back to strong support zones near the bottoms of their respective channels.
This is pretty much what happened Wednesday 6/10. Bounce6 ended for $NDX. Bounce6 already ended for $SPX IWM on 6/8. $SPX IWM started heading down early Wednesday. Now future prices are marching down sharply.
Here are the current messages from market internals.
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