The tentative EminiForecaster forecast for the trading week ending July 1st is now posted.

There is a change to the forecast. We expect the market to continue to decline into the Wednesday PM Thursday AM area and then rise from there.

With the market in decline on Friday, our current forecast has shifted. We are currently seeing pivots on or about the 30th and the 7th.  With the holiday, there could be some differences, but for now that is what we are seeing on the forecast.

Actions in the past week, involving Greece, the Fed and factors influencing crude oil have put pressures on the market to the downside. The market volatility has risen and ranges have expanded which include 30 point swings almost overnight.

We are seeing support in the 1252 and 1257 areas. This does not leave a huge amount of downside. As a result be cautious that the amplitudes on the forecast may be smaller than expected. To the upside we are expecting to see
1296 and then above that the 1330s are will come into play.

As always manage your risk tightly and preserve capital.

Wishing you the very best,

EMF Team