Review of the last few weeks and forecast.
1. Forecast made on 6/22/13 Swing cycle weekend Summary: 6/21L, higher into 6/27H, 7/3L
Actual: Monday 6/24 Low, 6/27 High, chop into 7/3 Low
All intermediate declines since the October 4 2011 Low has been mostly averaging 20 TD and at times 43 TD and 131-156 SP’s and 9-11% declines (see chart). From the 5/22/13 High, we have seen a 126.85 SP/8% decline in 22 TD into 6/24L. This was one of the reasons we expected the 6/21-24 Low.
2. Forecast made on 7/1/13 Swing cycle Summary: 7/3-5L, rally into 7/12 Medium term Geometric and Solar CIT.
Actual: 7/3 Low, rally into 7/11 High so far.
What's next: Markets unfolded pretty much as expected. We had an A=C = 1664.30 SPX target, which has now been exceeded. We should see a rally into the 1st Medium term CIT due on 7/12, which is also a Solar CIT. Once the High is in, we should see some pullback, then we should see higher Highs into the 2nd Medium term geometric CIT.