MEJT stock market forecast for 21 MAY 2026

Added: 2026-05-24

[00:00:00]Hello, trading has closed on May 20th, 2026. As always, we'll begin with our disclaimer. We'll go over our calls and then make our predictions.

[00:00:13]Uh this is my trading plan for Thursday, which is May 21st, 2026. Remember, it's just a plan. I can change it. I can be wrong. Trade at your own risk.

[00:00:29]Well, the general idea That's not the one I want.

[00:00:36]The general idea is that we've made a major top, and we should be dropping. But that doesn't mean we drop every day.

[00:00:46]We look for the pattern with the early low.

[00:00:48]Tomorrow has the early high, and we thought we would trade up, uh which we did. We traded up quite a bit.

[00:00:56]This is just a reminder of what we said.

[00:01:00]Tomorrow has the early high.

[00:01:07]During the day, we traded T. Said this rally's false. Gives us a target of 7406 62. If we don't gap up smartly, that's my call for tomorrow. There's an optional target of 736501.

[00:01:21]Optional targets don't have to print, but they're going to print about 95% of the time.

[00:01:28]So, if we don't gap up smartly, we should trade down quite a bit tomorrow, even though this one doesn't have to print.

[00:01:38]Well, we gapped up, hit a higher high.

[00:01:40]We just couldn't close over this high.

[00:01:41]That can't be good. This is a um Fibonacci target of the prior consolidation. It's a logical place for us to stop.

[00:01:52]I can certainly count this as a A, and a B, and a And in wave C, there are good fibs.

[00:02:03]I think you could um you could argue that there's good uh There's a very good There's a very good argument that this is the end of the move up uh particularly since futures are down about 30 handles the last time I looked.

[00:02:26]I mean, I'm just seeing now you could even count this as an ending diagonal triangle.

[00:02:30]A B C D E, maybe.

[00:02:36]Anyway, this looks like trouble if we can't recover this end gap up tomorrow.

[00:02:45]Thursday's pattern has the early high regardless of where we open.

[00:02:50]There are lower targets, but don't gap up smartly. The rules call for us to trade down. We gapped up at a higher high, but closed under the early high.

[00:02:59]This is this one.

[00:03:01]So, wave count compatible with the rally ending. Bulls need to gap up smartly to keep the recovery going. Futures are down quite a bit as I write this. That seems like a pretty tall order.

[00:03:13]Um I still want to see this gap fill at some point, but that point doesn't have to be now.

[00:03:20]The future's already down so much in these lower targets.

[00:03:24]Um Anything can happen overnight, but it's pretty tough to see us recovering.

[00:03:31]So, pattern tomorrow with the early high, and that's today's call.