27/07/2012

DOW closed up Thursday at 12.884.5 with an intraday high of 12.931.7.

Asia has been trading sideways with a high so far at 12.916. The 2 hr trend is up and resistance is at  12.931.7, 12.940.9 and the weekly high at 12.989. Europe will open in little more than two hours.

This week has been very volatile with big swings. DOW is the strongest of all main indexes and most likely to test the weekly high. SP500 and SWED have closed their gaps but DAX need to go higher for closing its gap. FTSE seems to have very strong resistance from the falling 21 week MA. A very interesting day again with a very complicated technical picture. The close tonight on Wall Street will be of big importance for the weekly sideways trend. The markets are reacting very strongly on all news and I think the big players are trading the DOW so anything can happen before Friday close.

The EURO's daily and weekly trends are still down but is attacking very strong resistance for the second week so far without success. 

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