16/09/2011

CET 14:15 Indexes have taken a new high but now sideways to down

The indexes have reached resistance levels with a new high but the hourly trends are now sideways to down. US will open in a little more than an hour.  Lots of discussions after debt news Thursday and many analysts say that we now want to see immediate action plan for Greece, Italy and Spain. Euro area finance ministers are meeting now with Geithner to get an action plan but the old differences have not been solved about next big package for Greece and 440 billion to the Euro fond. Parliaments will still make the decisions so I do not expect any big news from the meeting that some analyst crave.Later today and Saturday all 27 finance ministers in EU will meet. Many analysts say that if there is no action plan Monday morning the sellers will step in again.

The euro stopped at critical resistance point and the hourly trend is now down. Remember that the hourly trends can change quickly especially if the robot trading starts in the US. So the US will decide from now how the indexes will be traded this Friday. Everything is open after the negative views from many analysts.

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