Sunday, June 5, 2011

Nasdaq - Neckline broken


Nasdaq dropped 36 points, 1.3% on Friday to close at 2737, which is about 13 points below the neckline of the 'Head and shoulders' formation, a bearish sign. Its next target is the March's closing low of 2616. A close below this level will provide further confirmation to downtrend. Dow and S&P should move in tandem with the Nasdaq.



I am expecting the dollar index to go below its last month low of 72.834 during its current slide.



A historical moment for China and for Asia.

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