The strong uptrend by Dow and SP500 only touches the falling 8 week MA before closing below on August 31. European indexes also move up but still lack the strengt compared to the U.S. indexes to reach the falling 8 week falling MA:s.
The important point for Dow is a daily close above 12.007 which is 61.8 % of the drop from the top.
This morning all the 8 month MA:s is down for the second month in a row and as long as they are down the indexes in my definition are in a bear market. These long MA:s will stop any attempt in any rally for the next six months exept for Dow and SP500 which technically have a chance to change their bear market status. However first I want to see Dow make a daily close above 12.007.
Yesterday Germanys congress was said to accept the increase of the EU funds to help European banks if necessary. However there are many more political decisions which have to be made in Euroland to guarantee the safty of Greece economy for instant.
The important point for Dow is a daily close above 12.007 which is 61.8 % of the drop from the top.
This morning all the 8 month MA:s is down for the second month in a row and as long as they are down the indexes in my definition are in a bear market. These long MA:s will stop any attempt in any rally for the next six months exept for Dow and SP500 which technically have a chance to change their bear market status. However first I want to see Dow make a daily close above 12.007.
Yesterday Germanys congress was said to accept the increase of the EU funds to help European banks if necessary. However there are many more political decisions which have to be made in Euroland to guarantee the safty of Greece economy for instant.
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