CET 17.00
At CET 02.00 Asia started to sell the stock market indexes from all over the world. At 6.00 came a sell signal on the 2 hour charts and Europe started to sell at 9.00. In the U.S. the big indexes fell to new days lows. Right now it looks like the upside correction is over and the markets will test August lows. Dax is the worst off index and it has been just a few points above August lows at this time.
There are five hours more to be traded in the U.S. Here the Philly Fed index came out far below expectations. More information from all over the globe is coming in with weak economic numbers and now even U.S. banks are starting to talk about recession.
The stock markets short trend is very difficult to predict in this environment. Today's sharp drop on downside below a rising 8 days MA happens very seldom.
Crude oil fell sharply and Gold has taken a new high.
At CET 02.00 Asia started to sell the stock market indexes from all over the world. At 6.00 came a sell signal on the 2 hour charts and Europe started to sell at 9.00. In the U.S. the big indexes fell to new days lows. Right now it looks like the upside correction is over and the markets will test August lows. Dax is the worst off index and it has been just a few points above August lows at this time.
There are five hours more to be traded in the U.S. Here the Philly Fed index came out far below expectations. More information from all over the globe is coming in with weak economic numbers and now even U.S. banks are starting to talk about recession.
The stock markets short trend is very difficult to predict in this environment. Today's sharp drop on downside below a rising 8 days MA happens very seldom.
Crude oil fell sharply and Gold has taken a new high.
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