July 5th keeps coming back as an important cycle low for the stock market. The recent daily Bollinger Bands on the SPX show increasing constriction, which in the past pointed to a possible meltdown, similar to what we saw from August 18-24, 2015. This time around we have the same 115 TD’s from January 20, 2016 to July 5th that we had from March 11, 2015 to August 24, 2015. July 5th is also an important Bradley turn on a new moon. Another similar Bradley turn occurs on another new moon November 29, 2016, which I believe will likely be another important low this year.
The charts below reveal my updated thinking:
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