Game Plan Update: War of Attrition

It’s been a very emotional few days so while I stand by our outlook from Monday and encourage you to zoom out, I want to highlight what I see here in the short term (2-3 weeks) and some scenarios that are in play as well as what the cycles are showing.

As I said Monday this market is in a grind phase where it will look to get bulls and bears both offsides. That’s exactly what it did. Monday we saw nearly 109k followed up with an immediate drop and escalation in the middle east on Tuesday.

This is all something we warned about weeks ago if we were not to see immediate continuation.

I acknowledge the geopolitical risks but that doesn’t mean we totally abandoned our outlook. Time still tells it to us and as I pointed out Monday this market is still on track just as the last two phases where we shouldn’t expect to see a true run higher until mid July.

Here’s what the cycles look like slightly updated