SP500 is the strongest index still at the top of the rising daily trend. Is being held up by the strong Nasdaq stocks. DOW looks good as well locked in a rising daily uptrend between the falling 8 MA and the rising 21 MA. DAX have the same daily trend as the DOW and is the strongest European index.
SWED looks dangerous with current trading below the falling 8, 21 and 34 days MA. There is no cross on the downside of these MA yet but the overall picture does not look bullish at all and this index should be watched closely now. Even the weekly chart looks like the beginning of a downturn in a while.
FTSE is the weakest of the big European indexes with the weekly 8 MA now pointing down. FTSE is trading sideways in the daily trend. Should be watched the same way as SWED which both use to show the way for the next bigger move.
This week with the coming monthly close is very important to forecast the big trends. I do not see buying opportunity any where and I would not be playing any index now just wait with cash.
SWED looks dangerous with current trading below the falling 8, 21 and 34 days MA. There is no cross on the downside of these MA yet but the overall picture does not look bullish at all and this index should be watched closely now. Even the weekly chart looks like the beginning of a downturn in a while.
FTSE is the weakest of the big European indexes with the weekly 8 MA now pointing down. FTSE is trading sideways in the daily trend. Should be watched the same way as SWED which both use to show the way for the next bigger move.
This week with the coming monthly close is very important to forecast the big trends. I do not see buying opportunity any where and I would not be playing any index now just wait with cash.
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