Market comments for June 24

Folks, I'm not seeing Mike Korell posting yet at his public site although his ChartsEdge comments are at his subscriber site already of course (have been since last night). My thinking: if you're bullish, the market is simply working in a second-wave type pullback maybe completing Friday before resuming an uptrend perhaps into August. If you're bearish, the market is in the choppy early first-wave stages of the next leg down, and we'll get a second-wave pullback upward maybe from Friday into early July (fireworks?!) before rolling lower again. Unless it's really bearish and the market just tanks of course!

I'm mostly in the mildly bearish camp, thinking we get weakness that could have bottomed yesterday (or this morning?), but may need to put in a low on Friday, and then looking for some movement up next week. Because of the likely choppiness as the market gyrated with these factors (and possible wave 1 down idea testing for a low then bouncing up), intraday traders can certainly be in the market testing the long side as intraday indicators suggest entries, at least in the morning and first few hours, before institutional traders weigh in late afternoon. The market can always prove me wrong of course, so it's a matter of being careful as always...., and there's not just the euro which I said looks iffy, but even gold has the possibility of reversing out of a pattern that looks suspiciously like a wedge either finished or completing next week. It needs to get support where it is, or risk tumbling soon. So, there remain reasons to keep an eye out for market support in general to kick in soon - or not! As always, happy market navigating!