IMPORTANT information about the markets next move.

All the stock indexes have now been trying to get higher for three weeks and three days. The last hour Wednesday in New York the Dow fell 184 points to close at 11.903. SP500 fell 19 points the last hour to close at 1.236.96. The only technical obstacle to a sharper drop is the rising 8 week MA. This MA will continue to rise a few more weeks and could technically hold DOW and SP500 up with continued possibilities to take new highs. However SP500 looks more and more unlikely to go higher and a new technical factor has come in to play that could stop SP to take new high. To cover all eventualities, even an unlikely break of the 8 week MA I already now want you to be aware that these two indexes can start falling from now on.

The euro has taken a new low Wednesday getting below strong resistance points which adds to my cautiousness and ECB has been forced to buy Italian and Spanish bonds since the market wants higher and higher yield by the day. A sharp drop can occur any time now and a falling Euro could scare the stock markets.

Summary: The situation in the markets is difficult to read during this period of quick turnaround in trends and new information dropping in about Europe's debt crises which still affect the markets on both side of the pond sharply. No exact time could be set now for the drop I expect.

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