Most important technical change is that the EURO got a daily buy signal with 8,21 and 34 MA:s turning up making a definite bottom in the 1.2300 area. This bottom trend will get stronger by the day. This trend change suggests there will not be any Euro collapse for a long time. How high the EURO might go is not relevant at present only the fact that a perfect bottom has been created. The Euro itself rallied to a 34 day high close at 1.2471.
Second change is that GOLD and SILVER weekly trends broke on upside taking 15 and 11 weeks high at 1.641.19 and 29.49. CRUDE OIL is still in a strong weekly uptrend.
Thirdly the U.S. stock indices NAS and SP500 made new 2012 highs at 2.802.51 and 1.426.49. The DOW rose to 13.330.7 just 7 points short of a new high. The important thing however was the US close of the indexes at the bottom of the days range raising the question if the DOW has made a KEY reversal - which means a final intraday top of the long uptrend. These indexes daily trends are still up or sideways and the important 2 hour trends are down. Today's trading in Asia so far is just a little bit lower than the closes. The rest of the week will be very interesting and we will probably get the answers latest by next Tuesday if a trend change is on its way.
Second change is that GOLD and SILVER weekly trends broke on upside taking 15 and 11 weeks high at 1.641.19 and 29.49. CRUDE OIL is still in a strong weekly uptrend.
Thirdly the U.S. stock indices NAS and SP500 made new 2012 highs at 2.802.51 and 1.426.49. The DOW rose to 13.330.7 just 7 points short of a new high. The important thing however was the US close of the indexes at the bottom of the days range raising the question if the DOW has made a KEY reversal - which means a final intraday top of the long uptrend. These indexes daily trends are still up or sideways and the important 2 hour trends are down. Today's trading in Asia so far is just a little bit lower than the closes. The rest of the week will be very interesting and we will probably get the answers latest by next Tuesday if a trend change is on its way.
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