STD Yellow Week (June 25-29)

This coming week will be a Short-Term-Delta Yellow Week with a yellow Monday and a yellow Friday. Last Friday, June 23rd, the SPX closed near the day's high and we expect the STD-pattern to continue without inversion. Then this week should be tracing out some sort of a choppy W-shape. And according to the STD-Theory Monday-Tuesday should repeat last Thursday-Friday:

DOWN from a Monday (June 25) morning HIGH (high of the week) into the close of Tuesday June 26 (low of the week).    

This pattern makes sense even more since last Friday was a NR7-day (see HERE). However, other cycle projections suggest that the week's pattern would be as follows (see HERE + HERE + Mike Korell's ChartEdge-forecast below):

chopping up into the week's HIGH on Tuesday June 26, from there hard down into the low of the week on Wednesday June 27, a turn day

The Weekly Pivot-Point and Support-Resistance-Levels for the E-mini S&P 500 September are: 

R3 1,352.75
R2 1,344.25
R1 1,340.50
PP 1,335.75
S1 1,332.00
S2 1,327.25
S3 1,318.75
S4 1,310.25

STD Blue- and STD Yellow-days and -weeks are choppy and reportedly hard to trade, and some ST- traders recommend to go fishing instead. This notion is supported by the forthcoming Astro-Events suggesting potential CITs for almost every day:

2012-06-23-26 (Sat-Tue) = Tidal CIT
2012-06-25 01:42 (Mon) = SAT (D) = Merriman Level 1 - Turnday
2012-06-25 02:25 (Mon) = JUP 90° NEP = Merriman Level 1 - Turnday
2012-06-27 00:00 (Wed) = MAR 90° Galactic Center
2012-06-27 10:05 (Wed) = VEN (D) = Level 1 = Merriman Level 1 - Turnday
2012-06-28-29 (Thu-Fri) = Tidal CITs
2012-06-29 00:00 (Fri) = AI-CIT - Value = 7
2012-06-29 09:44 (Fri) = SUN 180° PLU = Merriman Level 3 - Turnday
2012-06-29 15:00 (Fri) = SUN 90° URA  = Merriman Level 1 - Turnday

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Tony Caldaro's Weekend Update (June 23, 2012) 

www.caldaro.wordpress.com

The recent rally from SPX 1267 to 1363 started off impulsively as it was unfolding. We were expecting the rally to reach either the 1363 or 1372 pivots in a five wave sequence ahead of the FOMC meeting. The pattern, unfortunately, looked like three waves on tuesday as the FOMC began. After tuesday’s high, and wednesday’s volatility, the market sold off on thursday to SPX 1324. This selloff overlapped the first rally from SPX 1267 to 1329/36. This made the entire June rally look corrective. As a result we have labeled the SPX 1267 low as a wave A, and the recent rally as a wave B. The most probable scenario suggests a wave C is underway to either retest the June lows or make a lower low in early July.

Dan Eric's Elliott Wave Update (22 June 2012)
www.danericselliottwaves.blogspot.com 

It would be ideal for the wave structure if Monday made a quick lower low beneath Thursday's low prior to any retrace into 1346 - the bottom of wave i. This would complete a small 5 wave pattern down from the recent rally high peak of 1363.46.