14.15 CET
The Greek crisis is solved at least for the next few months and the markets regarded EU:s decision positively. The Euro and the stock markets closed up for the week. Obama has tried with small news a few times during the week to lift the U.S markets higher and the markets seems to believe that the debt ceiling will be lifted soon.
This is now priced in to the rising daily trends. If negative news would appear the markets can fall substantially. It is therefor not possible now to tell what the markets will do week July 25.
However the big stock indices are now divided in three groups technically. The Dow, SP500 and Dax look strongest with only one negative, the weekly 8 MA is below the 21 MA which is a warning sign to be too optimistic on upside. Next group is FTSE, CAC40 which looks less likely to continue on upside and finally the dangerous group, IBEX, MIB and SWED30 which are closer to a bearmarket.
When something serious happens all the indexes will go the same way. With three indices that seems to continue on upside and low downside potential (group 1) and three indices which seems to prepare for a fall (group 3) and two indices that seems to continue sideways (group 2) it is difficult to tell just now where the markets will go the next five trading days. If the picture will clear up technically a new blog will appear immediately.
I am only looking for the big trends that will change the bullmarket which has been in place since March 2009. As soon as there are signs that a bearmarket is coming you will read it here as you did in late 2007 before that bearmarket started.
Traders might want to buy group 1 and short group 3. I myself do not want any position right now.
The Greek crisis is solved at least for the next few months and the markets regarded EU:s decision positively. The Euro and the stock markets closed up for the week. Obama has tried with small news a few times during the week to lift the U.S markets higher and the markets seems to believe that the debt ceiling will be lifted soon.
This is now priced in to the rising daily trends. If negative news would appear the markets can fall substantially. It is therefor not possible now to tell what the markets will do week July 25.
However the big stock indices are now divided in three groups technically. The Dow, SP500 and Dax look strongest with only one negative, the weekly 8 MA is below the 21 MA which is a warning sign to be too optimistic on upside. Next group is FTSE, CAC40 which looks less likely to continue on upside and finally the dangerous group, IBEX, MIB and SWED30 which are closer to a bearmarket.
When something serious happens all the indexes will go the same way. With three indices that seems to continue on upside and low downside potential (group 1) and three indices which seems to prepare for a fall (group 3) and two indices that seems to continue sideways (group 2) it is difficult to tell just now where the markets will go the next five trading days. If the picture will clear up technically a new blog will appear immediately.
I am only looking for the big trends that will change the bullmarket which has been in place since March 2009. As soon as there are signs that a bearmarket is coming you will read it here as you did in late 2007 before that bearmarket started.
Traders might want to buy group 1 and short group 3. I myself do not want any position right now.
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