The crash week starting April 7, which opened below 5K, was the darkest moment of this intermediate term move. That weekend, I predicted we would likely rally during the week and set a target price of 5450. ES1!5257.25 rallied 13% from the Sunday low intraweek, from 4830 to 5500. The following week, which was the last week, opened very green as the Trump administration introduced some tariff delays over the weekend. Nasdaq weekend futures were up as much as 7%, and NQ1!18128.5 opened Monday's session significantly higher. I had warned that we would likely see a sharp price reversal around the 5500-5600 area. NQ closed the week down 4%.

Now, this week, we are opening negative, with ES trading 1.1% lower in premarket. Based on the same pattern, we will likely see positive numbers during the week and a positive weekly close. Of course, no pattern or trend lasts forever, so we will remain alert as always. The low or mid-5100 area may mark the weekly low early in the week. We should see an important swing high sometime next week, and from there, we should head toward new lows below the April low of 4830.