Ok so looks like were closing for June around 17900 in the DOW, which unfortunately is between Martin's two numbers giving us no real signal.
(Again, written on June 17th, on this private blog @ ask-socrates.com).
1. "...a June closing
beneath 17790 will indicate the market is still positioned neutrally."
2. "To imply a breakout requires a June closing
above 18137.50..."
According to these two comments, the market is no longer positioned neutrally and yet at the same time it not positioned for a breakout. Either this is simply poor wording on Martin's part, or we should take this to mean we are now in a relatively bullish position but not enough to suggest a likely break out just yet (which may also mean we still a have a little more bearish energy to expect in the immmediate short term). This is why I'm really excited for the trader version of Socrates to come out, as when the trader preview was still being updated I was able to see the reversals and arrays in real time and didn't have to depend on Martin who sometimes make these unfortunate contradictions in his comments.
Further, he made another update on the DOW today, this time on his public blog (Again Martin can't seem to make up his mind, does he want to charge people money for this information or does he want to keep giving it away for free as he's always done?):
https://i.imgur.com/aTAxJx5.png"Here is our original technical projection from the 1987 low that we made while looking forward into the end of this private wave (51.6-year) target of 2032. Looking where we are right now, that is the top two price numbers showing 853315 on the bottom and 2264160 on the top. This remains our next primary target zone up in the 22,000-23,000 level. We just have to wait for a
Monthly Bullish Reversal at 18104 to be elected.
However, the 3rd quarter of 2016 is when volatility should start to rise. We have the US political elections and conventions are happening this summer, so expect the markets to get choppy. It is
unlikely for a breakout at this time and we have
no real Quarterly Bullish Reversals (18137) or
Monthly (18104) within striking distance for today.
Below the market gives us some concern to
watch the important levels at 17579 and 17115. We have
technical support during July at 17480 so this can become resistance if we close below it today. The
17120 level is still critical on our weekly model. A close below that on Friday will warn we are breaking down for the Summer, probably over the political instability with the US elections. This would become a possibility if we see a closing below 17579 today.
For now, it does not seem we are ready for the breakout. It appears we have to still see the US elections as one influence, but then we have the EU crisis as its counter-balance. This will be determined by the numbers."
I've taken a relatively small short position this afternoon (UVXY @ 9.51), as I expect the market to make a move lower by tomorrow or monday. The weekly bullish reversal is 17915 according to the private post Martin made on June 17th.
Here are the various moves I plan to make, depending on how this plays out:
1. If it looks like we're going to narrowly fail to elect the weekly bullish reversal (17915) at tomorrow's close (within 1%) then I will hold my short position over the weekend and maybe even add to it. For those not familiar, see Martin's video on the 1% rule:
https://www.armstrongeconomics.com/armstrongeconomics101/training-tools/instructional-video-reversals-1-rule/2. Depending on how low we go tomorrow I may just sell my position for a quick profit, especially if we get near his first technical support number without actually crossing it (17579).
3. If we continue to rally tomorrow I will begin to sell off my position at a loss early in the day, although like I said in my opinion a continued rally is unlikely without first consolidating and then bouncing off of Martin's technical support @ 17579.