* EVENTS FREEZING SPRING FLING RALLY BONANZA AS WE ENTER THE SUMMER
Astoria, New York
It may have been a dandy of a spring, but now the summer, with wet spring weather carryover in the Northeast, could signal a flattish to bearish pattern for the late June period. As predicted here at the real economist blogspot, the Dow was anticipated to trade in 8000 range finding resistance just below 9000 and support just above 8000. But now dark clouds, and not the ones hounding New York City for several weeks, have loomed and are threatening the markets once again. The two big ones are Iran with a possibility of a revolution destabilizing that country, and North Korea with perceived threat for missile launches in July, perhaps on the 4th. There are other clouds too but for the time being, here I am concerned mostly with the international news front.
The possibility for the Dow to revisit 8000 exists as early today we have fallen below 8500. Stay tuned here at the real economist blogspot for real ideas, not fake ones.
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