Given the likelihood that US equities will be locked into a trading range until the end of June, when the G20 meeting takes place and a probable Trump and Xi sidebar meeting takes place, stocks may reach an inflection point when price and moving averages converge (see bullseye in chart).
This will fulfill the set up that leads to a Mega Trend reversal and the dreaded bear. Moreover, with earnings flat to slightly down (see table) and interest rates almost certainly flat to down from current levels, the drivers for higher stock prices between now and then do not appear to be there. Once there, we shall see.
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