Model 1 and Model 2 first produced the May turn date in April 2011. In order to get a handle on the potential bottom of the market, these two Inflection Point Models have been re-run and following conclusions were achieved.
Although Model 1 is suggesting that the next market turn date will be around June 21, 2011 (+/- 4 days), Model 2 is not giving us a clear indication. Consequently, we can have a turn window from June 17 to June 27, but this window is not very reliable due to presence of turn date only in one model. Furthermore, next week is the FOMC week and many times market turns during this week.
Now the question remains: What type of pattern will the market trace out over the next few days, which will suggest that we have seen th bottom? I will further analyze the market from other perspectives to better comprehend the future market trajectory.