Mr. Market looks weak for the next months

Sell in May and go away could become a good theme for this summer. The market is med.-term exhausted and shows shorter term weakness.

The Options hints a probable bounce fairly soon but the key question is how far will it take us ?
The timing model interestingly confirms the above.
Precious Metals look a AUGUST and the SPYDER does the same as does the TLT. This all against the backdrop that the US$ wants to bottom.

Bear in mind that technical Analysis offers us a medium term context based on the anlysis of Patterns and Liquidity. This can all be distorted by short-term activism on the news front, like ....a new increased bailout for Greece.....QE3 etc.....but gravity usually reinstates itsself over time.

Thus this context gives us a the key perspective.