The tentative EminiForecaster forecast for the trading week ending July 1st is now posted.  (click “Next Week”)

We expect the market to continue to rise into the Wednesday PM Thursday AM area and then decline from there.

This upside cycle started about a day earlier than expected. The market volatility has been high and variable with news stories hitting the wires and the FED’s negative comments.  We do however expect the forecast to continue up as posted into or about the 30th.  We do have a holiday coming in which can potentially shift things a bit, but since the holiday is on Monday, it should not have that great an impact from the way it looks now.

We are seeing support in the 1257 area which is today’s low. To the upside we are expecting to see 1296 and then above that the 1330s are will come into play.

Daily ranges have been expanded in recent days, but dropped today as is consistent with the forecast.  The $VIX index is now at 19.3 as of this writing, which corresponds to an 15.4 point range. It is always good to keep this in mind when placing orders as it is best to
place orders where you are within that margin off a low or high when trading so stops are less likely to be hit.

As always manage your risk tightly and preserve capital.  We do not anticipate any changes to the forecast but will update on Sunday.

Wishing you the very best,

EMF Team