All European indexes are locked in a definite bear market. The last 8 days rally with new highs everyday might give the impression to many journalists that what is happening with the Euro meeting goes fine. The traders in Europe might think so as well. My own take may be odd but this is how I see it from a technical analysts perspective. All European indexes starts trading at CET 09:00. They close at 17:30. DAX, FTSE and CAC futures are trading until US close at 22:00. DOW and SP500 opens in Asia at 01:00 every morning. At that time the last few days the US indexes have moved strongly on upside so when Europe starts in the morning they start with big gaps which forces them to go higher and higher in what they think is good news. I think that the whole scenario the last three trading days is made by the big traders, that is manipulated.The rallies that has occurred in early trading in Asia looks from my perspective technically manipulated and fundamentally wrong. I have seen charts every day since 1983.
Since these rallies in the DOW and SP500 starts from a downtrend at close with a strong uptrend 3 hours later with gaps it is difficult to push away my thoughts of manipulation in the higher school. By doing so day after day these people make enormous money in Europe every day if I should be right.
However I have to analyze the trends and the fundamental facts so it is not my business who is doing what. But one day in the future some one will see why the markets sometimes move manipulated.
Since these rallies in the DOW and SP500 starts from a downtrend at close with a strong uptrend 3 hours later with gaps it is difficult to push away my thoughts of manipulation in the higher school. By doing so day after day these people make enormous money in Europe every day if I should be right.
However I have to analyze the trends and the fundamental facts so it is not my business who is doing what. But one day in the future some one will see why the markets sometimes move manipulated.
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