ChapmanWave

Dow daily Leg-D with a very good chance it becomes a Peak-D as theere is finally some bad news filtering the market.

Right here, in Dow daily Leg-D is where/when we become momentarily cautious.

While we await a Leg-D in the Dow, there are pockets of weakness, and signs of rotating strength.

While there is still internal strength, there are many overhead resistance levels above.

Right here we start to assess internal market strength, or weakness.

It appears the QQQ, SPY, and SMH-semis have Recycled higher, dragging the Dow modestly higher.

That was an excellent reversal, suggesting higher highs to come, near-term.

Even as early morning weakness has unfolded lately buyers are still coming in. That will change when bad news permeates the economy.

May concluded quite strong, now we could see some shakiness as the upside sees a lot of resistance levels.

April and May have been superb for the Dow, and the general market, could June be a bit shaky.