MacroVoices #372 David Rosenberg: The Bear Market Bottom Is Not In
Macro Voices
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The Volatility Inducing Events on the NASDAQ
NASDAQ spot right now is around 317 on triple Q's. implied move for the May 19th op-ex, which is about a month away again, is plus minus 14 points. Key resistance above is 320 and key support is at 300. US Dollar Index has seen in double bottom recently. We're nicely holding in the consolidation zone. I don't see any reason to conclude that there's a really big new move down in the dollar unless we see a daily close below 100 on the Dixie.
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