Looking at the NASDAQ, we may just have a perfect bear flag from April 2 to May 2, which is a perfect 4 weeks.
No doubt the market is waiting for Cisco, that being said, IF we get a breakdown from this flag, the market may/should be retesting April lows within 3 to 4 weeks, May 31, 2001. However if we break 2250 lots of fireworks on the upside.
Looking at the VIX and the US Treasury Bond June futures, the market seems to have positioned its self for downward momentum, that being said, big money, is surely, being very careful not to show any cards at this stage.
One thing is for sure, whichever direction, I doubt, it will be dull.
Very dangerous markets. |
