Weekend 6/27/2026
SPX Hourly
This may be a wave one down ,two up and three underway if so the wave one low at 7275 needs to fall.
NDX is the same picture but the important juncture for the markets./
28,400 needs to go in this case. If SPX and NDX both take out Wave 1 lows a top looks more possible.
The guys who run the DOW components are always trying to goose the average with the latest hot stock. In this case they take out Verizon June 29 and add Alphabet, ie Google. that makes five of the Mag 7 in the DOW average. As always looks like they are late to the party. Here is the Churchill MAG 7 ETF. If anything more Mag 7 will pull the DOW lower.
Silver looks headed to 50. RSI probably needs to go below 30. 50 as a targe makes sense, that was the high in the 1981 blow off. See Hunt Brothers Silver Corner. the Hunts amassed a huge silver futueres position. Instead of the usual closing out the cotracts routine, they asked for physical deliver, there was not that much silver in the COMEX warehouse. The Exchange was not amused. The Hunts eventually took bankruptcy.
Social Mood
Six British PMs in less thana decade
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