03/05/2012

The DOW rally May 1 did not get a follow up on Wednesday because of strong selling in Europe.

After Europe close the DOW moved up a bit to close at 13.264.7. The daily trend  is still strongly up, today giving support at 13.190. DOW is now trading 13.253 in Asia. The markets are now focusing on US non farm payrolls news at CET 14.30 Friday. From a technical point of view this could be a start to retest the intraday high from Tuesday at 13.337.
SP500 daily trend is up as well but the index does not seem as strong as the DOW which is now the worlds leading index.

The European indexes are still moving sideways to slightly down. IBEX took a new  low Wednesday but is still holding above the last resistance point.

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