This week could be crucial for the long term trends of all big stock market indicies.

The stock markets have come to a crucial point right now which might determine the next long term move.
The U.S debt ceiling and the longer term solution for Greece will most likely come to a decision point later this week July 18. Congress need time to make the laws before the deadline August 2. EU finance minister will meet July 21.

The European Bank Stress test has not been defined as good or bad yet so the market has not reacted fully yet. There are so many news this week so it is best to skip all news and follow the charts instad since everything is built in there what the market thinks.

The technical pictures shows the possibility of a sharp drop or a push on upside. The fundamental news triggers will probably show up on the indices 5 minutes charts in advance of the decisions. A U.S. agreement to lift the debt ceiling can come any day of the week and the best way to find it is on the small scale charts. Gold and bondprices plus the EURUSD should be followed 24 hours from now togehter with the stock indices. The big market players use to use market situations like this to push the markets the wrong way for a while so this week is not something to trade for unexperienced traders.

The big indices differ technically right now. Italian, Spanish and Swedish indices are the weakest then comes France and UK.- Dax, Sp500 and Dow looks safer.