The major indices have a huge up day. What's next for Nasdaq?

Recap 6/21 – Tuesday, the S&P opened with a 40 handles gap up and then rallied another 62 handles into an 11:04 AM high. From that high, the S&P declined 22 handle into a 12;11 PM low. From that low, the S&P gradually rallied 25 handles into a 3:13 PM high of the day. From that high, the S&P declined 15 handles into the close.

6/21 – The major indices had a huge up day. However, most of the gains were in the morning and that was followed by a gradual uptrend into the last hour to finish with the following closes: DJIA + 641.47; S&P 500 + 89.95; and the Nasdaq Composite + 270.95.

Review – We had a major change in trend window due over the 6/17 weekend. However, you may recall that following a hard down week, the market made a low Friday morning and then had an upward bias into the close. This is contrary to our ideal model. We want to see the market close near it low if the market has been declining or near it’s high if the market has been in an uptrend. The typical pattern is that the market would be expected to spill over into the next trading day. For example, if the market declined into our change in trend window, we would look for a low during the morning of the next trading day, often within the first hour. This is not the setup we had on Friday. In fact, the market jumped the gun. This means there were too many eager buyers. This pattern often leads to a shortened move. And at this writing, that is what we are seeing, as the S&P futures are down significantly in over-night trading, and have given back most of Tuesday’s rally. It very well could be that rather than the low we were looking for over the 6/17 weekend, the market was setting up for a high on Tuesday. Additionally, we had a change in trend point due for 6/21 PM and the market made it’s high around 3:15 PM.

Looking ahead we don’t have anything until 6/23 AM. Please see the details below.

The Now Index has now moved back to the NEUTRAL ZONE.

Coming events

(Stocks potentially respond to all events).

5. B. 6/23 AM – Jupiter 60 US Ascendant. Moderate change in trend US Stocks, T-Bonds, US Dollar.

C. 6/27 AC – Neptune in Pisces turns Retrograde. MAJOR change in trend Commodity Index & Oil.

D. 6/28 AC – New Moon in Cancer Apogee. Major change in trend Financials, Grains, Precious Metals, Silver.

E. 7/01 AC – Jupiter 120 US North Node. Major change in trend US Stocks, T-Bonds, US Dollar.

Stock market key dates

Market math

6/29 = 861 Music days > 2/19/2020 MAJOR HIGH.

*DJIA – 6/27

Fibonacci – 6/21, 6/27.

Astro – 6/28, 6/29, 7/1 AC.

Please see below the S&P 500 10 minute chart.

Support - 3636, 3580 Resistance – 3780.

Please see below the S&P 500 Daily chart.

Support - 3636, 3580 Resistance – 3780.

Please see below the June Planetary Index chart with S&P 500 10 minute bars for results.