Some major banks are putting in the Death Cross. That is the signal of doom. The 50 day moving average is crossing over the 155 day to the down side.
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| BANK OF AMERICA |
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| MORGAN STANLEY |
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| CITI BANK |
Wells Fargo and Goldman have not made the cross yet but are headed in that direction.
This development of course means that the market will fall broadly with the banks, silver and gold will weaken, and commodities will tumble.
This puts us in line with the end of QEII, Memorial Day holiday, beginning of summer; all the triggers are lining up nicely now. The market looks like it will fiddle and stumble, rise and fall, until one or the other of these triggers hits mainstream media and investors head for the exit.
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