1140/1150 summer high test?

It is the most dominating projection of the market all summer and pre-summer for that matter - the key becomes Friday's non-farm pay-roll which is bound to be poor.

I note, with some distress, how small business survey by Well Fargo last night managed new lows for the series, and my favorite forward indicator is looking at minus 3 pc growth in consumer segment! In other words we are getting desperately close to the boiling point of the market and we will see the long expected negative moves in Q3 and Q4 - for now the market is skirting on low yields ( for longer), more stiumulus coming (they think), and good company news, but alas.... I tihnk the April high still constitutes major high and that we are now in classic re-test of high and the gravitity ultimately will take the market down.

I will be off line for a few days checking out the facilities in Mallorca, but ......will be back to time the sell-off.

Good luck