The last Major Time and Cycle Cluster was on 6/3-6/08 (see previous posts). We had a 6/5 Major High. The markets are now declining into my next Time and Cycles Cluster due on 6/30/08 +/-1.Potential Price Targets are shown on the Monthly chart (Click to enlarge).
The first area of support is 1290-1300 SPX (where we are now), but the more likely target is the 1257-67 SPX area.
The 1257-1267 SPX is the 38% and 62% retraces and is the previous 1/23 and 3/17 support lows as well as the long term UP (green) channel. Only if we manage to crash through this triple Major 1257-67 SPX support, then 1172 SPX is the 50% retrace and (Red) Down Channel (1st chart) Major support.
There are several proprietary Timing Clusters due on 6/30/08. There is also the well known New Moon-2 (due early am 7/1/08) harmonics with past crashes:
6/30/08 NM-2:
1. 84 Lunar Months (= 7*12) 9/21/01 Crash Lows
2. 132 Lunar Months (=2 *66=4*33) 10/28/97 Crash Lows
3. 256 Lunar Months (=2*128=4*64) 10/20/87 Crash Lows
Although there are Lunar Harmonics with past crashes, a crash remains unlikely into the 6/30/08 Lows, but you won't want to be long during this time period.
The potential bullish counts are shown on the chart. This suggests we should get an explosive rally in July, once the 6/30 Major Lows are in.
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