In the weekend post, we noted: "
Nothing major to capture in weekly outlook - medium term situation continues to follow what has been noted in previous weekly and daily updates. Here comes one of the most important week when US FED makes a key monetary policy decision and its announcement on June 19th. Bulls are looking for a rate cut from the dovish FED. Bears want FED to delay rate cut and continue QT. From trading and investing stand-point, market has its own cycle regardless what the FED says."
Today's market action clearly portrays how financial markets function and how cycles continue to control their price dynamics regardless of news, media, governments, and for that matter FED itself. FED announced no rate cut yet. Still, as anticipated S&P, Bonds, Gold/Silver, and EURUSD (decline in Dollar) continued to push higher. More than the news, it is its interpretation that matter the most and that changes when cycles are going up or going down.
The below is a snippet of short-term cycle chart sent to our subscribers over the weekend indicating a short-term bottom in S&P by
2019-06-19 11:00 PST followed by uptrend. The second S&P price chart captures the real action in market today indicating the timing of the bottom. The third chart captures Gold/Silver push up as predicted by cycles.
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| S&P short-term cycle - weekend update |
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| S&P Price Action - 06/19/2019 |
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| Gold/Silver short-term cycle - 06/19/2019 |
