Bull Trap In The Making?

The Dow lost 1.54% or 185 points last week mainly on uncertainty surrounding the Japanese Nuclear Crisis.

Last week was certainly a volatile week with spikes in volatility reflected in the VIX along with
Quadruple Witching on Friday. There was obvious bargain hunting going on in the market
last Thursday and Friday as the Dow retook 245 points over those two days as traders speculate on a resolution of the Japanese nuclear crisis, which
came to be through the weekend.

The worse for the nuclear crisis may be over now since temparatures are below boiling point but the weekend also saw the involvement of western powers into
the Libyan crisis which will certainly lead to higher oil price and pressure on the stock market. As such, it is still going to be a volatile week ahead as
investors decide which piece of news to give priority.

So far, the short term bear trend continues to be intact despite the two days rally and how the market do this week will have an impact on where it will
head into the intermediate trend next.
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