By Karen Starich

The Markets
All the major indexes continue to show a negative divergence.  Jeff considers the current trend a bear market bounce from the low in late March.  We could, however, continue to see the markets move higher, possibly into the end of June.  The transit to note June 10-13, Mars conjoin Neptune, makes everything look rosy.   For the public – the grass looks greener, skies are blue, the markets look great, risk on with a Mars Neptune conjunction. Careful though, there is a darkside to Mars conjoin Neptune.  The public is susceptible to deceptive images in the media, hype, and illusions of grandeur. There is no edge to trade short here.  Best to wait it out.
GOLD
We are just two weeks away from the June 21st solar eclipse at 0 degrees Cancer.  There will likely be a major event that will trump (no pun intended) Covid-19 and the current riots.  What is happening in the gold futures is the clue.  As I mentioned last week, on May 28th – gold futures traders declared their intent to deliver 2.8 million ounces of gold against the future June contract.  The eclipse suggests a financial crisis, and a gold breakout may be in the near future.  The potential for a 9/11 type of terrorist attack, war, or major disaster before the end of the year is very real.  There seems to be a gold theme attached to whatever is on the horizon.  We are watching the GLD for a good entry level. 
 
June 26th – Potentially very volatile.  A possible attempt to push gold prices down and at the same time more demand for delivery – very chaotic.  By the end of June we might see the breakout we are looking for.  
   Karen Starich

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