In my Webinar presentation last Saturday, I provided some dates that I think will mark turning points for the stockmarket. The next date to arrive is June 12, 2011 (This coming Sunday). Since this arrives on the weekend, I’m anticipating a turn on Monday 06/13/11. Considering the recent trend, it appears the market is likely to form a bottom.

What I’ve  worked out since my broadcast last weekend is a complimentary price target. Basis the June e-mini, a support zone/target of 1267 is projected. Adjusting buy stops lower, as the market continues to drift lower is a strategy type to exploit the anticipated reversal to the upside.

Should the market not reverse by Wednesday of next week, but say consolidate sideways for a few sessions, that would indicate the time target of 06/12 was used by the market as a mere pitstop for refueling, and should then continue its descent into the next time/price confluence area of July 31 (also a Sunday,so again look for the reversal on Monday 08/01)/with a corrosponding price target of 1156.