Potential Short-Term Swings in Russell Following Projected 6/3/14 Top Window

This is a follow-up to the previous blog post. No time for a chart, but additional analysis points to a potential swing low on or near 6/10/14, followed by a rally back up near or above the 6/3 top (if there is a top in the 6/3 window). If a rally does ensue out of the 6/10 area, I would look for final swing highs around 6/16/14 before the larger swing down into the 7/10 to 7/11 area (+/- a trading day or two). As mentioned in earlier posts, I'm doing analysis and projections using the Russell 2000 lately, which is what these current projections are based on. The way the SP keeps levitating, I wouldn't be surprised if 6/16/14 window brings a new all-time highs while the Russell should not get much above the 50-70 percent retrace area of the decline since March. As usual, any of the projected turns could invert regarding the polarity. So, whichever way the market is trending into a CIT date, I would look for evidence of a reversal in trend.

Best guess summary:

Top around 6/3/14
Low around 6/10
Top around 6/16
Then larger decline into 7/10-11 area.

Kim Rice 6/1/14