Sorry for the delay. Couldn’t reach my computer and my charts last week.
Meanwhile the markets have dropped to our lower support levels and now trying to rebound.
Let’s have a look at the current chart for the S&P 500 index (click for larger image):
A bottom has been made just below 1300, and we may retest it in early June , as we are now in a lunar Red Period.
But normally we are setting up for a rally, as is also indicated by our Earl indicator, which has done a pretty good job at signalling the most recent bottom.
I would use any drop to 1300 to do some buying, and keep a stop-loss near 1280.
Good luck,
Danny
LunaticTrader 