Futures down and the May expiration week is typically weak on the upside on the NDX.....the last 16 years are even at 8-8, and a net down 0.28 percent. The week following expiration is much stronger.....with monday May 20 being the projected 100 trading day low after the December lows. I was thinking Monday might be a bounce after Mothers day, but this market is looking for any good reason to correct. My trading system is still clearly on a 5 minute sell signal even though they managed to create a decent bullish bottom formation on Friday. If there's a bounce on Monday, its not going to be off to the races yet. 2 washout closes on TQQQ last week which is good after what we saw in April. 60 min MACD still quite a ways below the zero line.....sell the runups.
I've heard most of the experts say there's almost no way to get a worthwhile improvement in the trade balance when you have the world reserve currency. That's just the way it really is. And I don't think the empire really wants to give up the USD status on the big stage anytime soon.
