28/06/2012

All indexes are moving sideways for the fifth day

The daily trends 8 MA's are down but the 21 MA's trends are up. The markets are moving within these these lines up and down with no big change awaited until EU has had its two day summit which starts today at CET 15.00 and ends Friday.
Today the DOW and SP500 have hit the top of the range and are now testing the bottoms.

So far after 2 hours trading in Europe the only thing worth mentioning is that the EURO has taken a new intraday low at 1.2406. The last support before a test of the crucial 2010 low lies at 1.2287. If this point is broken the the Euro could be in for a possible big drop.

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