11/08/2011

CAC, IBEX, MIB new lows today. All getting closer to the target which is the 2009 lows.

SP500,Dow,FTSE,DAX and OMX have all reached their targets . Now at 3 CET before the U.S. opens they have built a four day bottom but are very close to take a new low if the U.S. traders send their markets down tonight.

CAC, IBEX and MIB have all taken new lows and could reach the crucial target point which is the lows of 2009. A break here on downside is a verry very bearish sign.

If the first group can further build on the bottom a strong correction upwards could occur within days.

Tonight and Friday's trading will be crucial for the next move in all indicies.

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