This guy gets it right sometimes
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Correction over - S&P 500 likely to aim again for 2100
The tide has newly changed. On Thursday, the US stock markets reached their respective daily cycle lows going to bounce up now during two, most likely three week candles (10 to 15 trading days up) until the several time negatively tested strong resistances are worked off resp. reached that result from the all time high and the monthly time frame.
The uptargets of the S&P 500 that are offering themselves resp. can be calculated are: 2083 = minimum uptarget for the coming up cycle, furthermore 2095 and even 2101. 2101 as important uptarget and probable final June 2016 high is downright imposing on us, in my opinion.
After being worked off one June target or all of them - 2083, 2095, 2101 -, the recent after FOMC low at 2026 becomes a critical level. If the market wants to close below the 2026 on weekly closing base from 06/01/2016, some enormous downforces can be unleashed and as a result, an 100, 150 pt. panic down-move might emerge.
The next really important buy signal in the S&P 500 will be triggered only in case the month of June 2016 closes unequivocally above 2096. Such a June buy signal in the monthly time frame would likewise bring to an end the tenacious shoving sideways of the last couple of months, activating 2500 index points till year end 2016.
On 04/24/2016, in the free GUNNER24 Newsletter issue we could state that the S&P 500 had to fall and correct cause the April high reached a main uptarget and starting there enormously strong and important Gann Resistances kicked in.
On 04/24/2016, we furthermore realized that the 2111.05 April high has thoroughly got the potential for being the final high of the year 2016 but that we should work on the assumption of a "moderate" correction move for the time being: