Right now all of my work in Cisco (CSCO) argues very strongly that the April 19 low at 16.52 ended its bear market phase from its April 30 high at 27.74. If accurate, this means that the strength off of 16.52 either represents the start of a powerful counter-trend recovery rally (that projects to 18.20/50 next) or the start of a new bull phase that should propel CSCO well beyond 18.20/50.
Originally published on MPTrader.com.
