The close has mainly a psychological impact. The immediate market impact is none since the market several times during the last six days has been trading above 13.000. The monthly, weekly and daily trends are still holding up well but we now have a triple top and a double bottom during the six days and a break on the upside or downside must come sooner or later. I want to see a daily close above 13.052.5 for giving a green light to take on the 2007 top. Here is the daily bar chart since Dec 15. The last six days DOW has moved sideways as you can see.
Wednesday ECB will lend the European banks more money. It is expected to be between 300 and 500 billion euros. The market and the euro will most certainly react on the news how much has been lent.
Wednesday ECB will lend the European banks more money. It is expected to be between 300 and 500 billion euros. The market and the euro will most certainly react on the news how much has been lent.
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