The Dow and SP500 worked themselves up through the falling 8 days MA to close on high. The hourly trend is now up and the target seems to be the correction top which is just below the 21 day falling MA.
The European indexes which are traded until CET 22:00 followed the american indexes. These are CAC, DAX and FTSE. The trend is up regarding all indexes now. IBEX, SWED and MIB which close at CET 17:30 will jumpstart Thursday morning in Europe.
The U.S. analysts are looking forward to a speech Friday at CET 16:00 by the Fed chief Bernanke which most likely will have a big effect on the markets. The question is if the central bank will give more stimulus to the economy and if so, when.
A positive speech could send the market above the correction top. Such a move could start a strong correction upwards. For now the markets are volatile and the trends are up.
The European indexes which are traded until CET 22:00 followed the american indexes. These are CAC, DAX and FTSE. The trend is up regarding all indexes now. IBEX, SWED and MIB which close at CET 17:30 will jumpstart Thursday morning in Europe.
The U.S. analysts are looking forward to a speech Friday at CET 16:00 by the Fed chief Bernanke which most likely will have a big effect on the markets. The question is if the central bank will give more stimulus to the economy and if so, when.
A positive speech could send the market above the correction top. Such a move could start a strong correction upwards. For now the markets are volatile and the trends are up.
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