The worst job report in 11 months sent the European and US indexes sharply down to close at a weekly low. The strong daily uptrend took a beating and the trend is now unsure. The hourly charts trend are now down.
The recession thinking is back on the first pages. Italy has difficulties to implement the austerity program and Greece problem which was meant to be solved last week for the next payment could be in limbo. As I have said many times in this blog the recession will come back again and again and this question will not go away for a long time. With the worlds biggest economy unable to get new jobs a new stone has been put on the world economy.
Most American analysts and Mr Bernanke believes that the US will not enter a recession and that keeps the rallies coming. In Europe except for the UK the underlying scare for the euro to collapse and the GDP:s hoovering around zero makes the analysts more pessimistic.
The consumer sentiment is low in both continents and the manufacturing indexes get lower. It is a slow process and the stock markets might get rocky for a long time.
I am still holding only cash and waiting for an opportunity. I still expect a sharp drop in oil and I think that this is the place to be for short trader.
The recession thinking is back on the first pages. Italy has difficulties to implement the austerity program and Greece problem which was meant to be solved last week for the next payment could be in limbo. As I have said many times in this blog the recession will come back again and again and this question will not go away for a long time. With the worlds biggest economy unable to get new jobs a new stone has been put on the world economy.
Most American analysts and Mr Bernanke believes that the US will not enter a recession and that keeps the rallies coming. In Europe except for the UK the underlying scare for the euro to collapse and the GDP:s hoovering around zero makes the analysts more pessimistic.
The consumer sentiment is low in both continents and the manufacturing indexes get lower. It is a slow process and the stock markets might get rocky for a long time.
I am still holding only cash and waiting for an opportunity. I still expect a sharp drop in oil and I think that this is the place to be for short trader.
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