Citigroup to fall around early June

1. Head-and-shoulders forming on the 5-day.
   
2. Credit card defaults reaching all-time highs.
   
3. Cash exodus (mostly to money markets, bonds, etc.) means the hurt on Western/U.S. banks is only just beginning.
   
4. Trend is downward.
   
5. Looking for a bounce around the bottom of the LuxAlgo indicator channel.