Last updated on june/18/2011
The long term trend is holding for now
For now the correction in the Dow did find support at the exact level of the 1.272 Price projection from the may 2 top (project down the swing from feb 18 till march 16.)
The Weekly Dow transport did not violate the LongTerm trendline and is indicating that the trend is still up.
Time projections for the NDX give as likely turndates june 15-16 or july 12-14.
The weekly NDX is in a possible exhaustion period for a correction. Possible turndates are june 16 , july 15 and august 5. Since we are in a possible W4 (which normally take a longer time period and a smaller pricecorrection we assume that we will see a sideways market for a few weeks
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