Markets is still acting very strong more than I had thought 1 month ago. I expected a major correction in June, but as mkts kept staying strong I believe we wont see any larger corrections before probably August/September this year.
So most likely that we will still go higher but on the very short term we could see a pullback to 1925-1930 and possible 1900.
We might top out early this week and then start a pullback afterwards.
1. VIX is near low levels and expect VIX to bottom here at 10
2. Gold should start a slow pullback into mid July from here, so expect a brief pullback on Gold to 1285-1300 range.
3. Markets should top out early this week and start a pullback/correction down to 1925-1930 and possible 1900 too.
4. NYSI extremely overbought too suggest we are due for a breather here.
Conclusion:
All in all , we should see a top here early this week and then start a pullback down to 1925-1930 and possible even 1900 before we are going to see another rally to new all time highs afterwards.