mmm monday, page-3

lst June is really important from my astro studies. As it is a big one, I like to allow a couple of days either side. We had the full moon exuberance in New York on Thursday followed by a more dour performance on Friday as we neared the lst June. From what I do, this lst June window is probably as important as anything we have had so far this year. It really is do or die time for the market. The S&P must hold around this support level to give any hope for the little head and shoulders pattern that Volt highlighted last week.

When I am faced with such a depressing scene, I always try and look for something that could be classed as encouraging and the one thing I can find is that the NASDAQ is slightly outperforming the Dow. I always look for it to outperform at bottoms and underperform at tops.

So for me it is either an important low or merely a half way mark. At this stage I favour the latter but we won't have to wait long to know.