Technical warning on NASDAQ and SPX Small Caps 5-12-2014

At this point we time, we raise a technical warning on the weakness of NASDAQ and SPX Small Caps.

Currently, we are possibly in the right shoulder of an inverter head and shoulder pattern.

A fall below 4000 for Nasdaq could trigger this.

A bounce above 4000 and make higher high above the right shoulder/neck will invalidate this bearish scenario.