16/08/2011

Euro Area Economy almost stalling. Indices drop a little so far.

Bad news influence upside correction. Small drop so far at CET 1:15. Could influence upside daily trend.

Gross domestic product in the 17 nation euro area rose only 0,2 percent. Germany rose even less, 0.1 percent in the second quarter. Market had expected 0,5 percent. This is in line with what I have expected meaning that we are very close to recession or maybe already in it.

Trading Friday and Monday and so far Tuesday has been very slow but on upside but no rally so far. Since the news broke the slow markets sold off a little. Waiting for the U.S. to open and show the way if the upside trend is broken or not.

No comments:

Post a Comment