Are There Storms On The Horizon?

As I have discussed in previous reports,  I am seeing some really bullish set ups in some Sectors, and some interesting moves in other sectors, but  still I have to wonder if there could be future storms rolling in within the equity markets?   Lets look at some charts...

The NASDAQ re-gained the 50sma, but is still weakish.  Look at that MACD.  We need a burst higher soon.

NAZ 5-12

Lets look at the SPX...

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Not much changed from The weekend report to now, so lets quickly review the mkts and then review a couple of trade set ups...

For the NASDAQ-   I have been showing a bearish wedge, and I pointed out how they occasionally can consolidate & turn bullish like in this  2011-2013 wedge. I shared this chart

NASDAQ 5-8 3rd  

Lets look at the SPX currently

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I am seeing a lot of Triangles forming in the markets, some bullish by nature and others bearish.  Lets take a look and review the past week and look forward to a few ideas too...

I posted this WKLY NASDAQ in a mid-week report on MAY 6.  Could it recover?

QQQ 5-6 wkly  

Amazing.  It recovered by week end.

NASDAQ 5-8 wkly

Lets look at some other triangles and wedges...

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