Today Monday August 27 could be the turning day down for all indexes. The daily trends which has been up since June 5, could today be put in place for the beginning of a long downtrend or rally to take new highs.

This is the most important day and week 2012. DOW, SP500 and NAS are exactly technically in a situation where the daily trend can change down or continue to new highs. DAX and most of the European indexes are also in this situation. From now and the rest of the week things will most certainly happen so WATCH UP.

London is closed today. Asia has traded the US indexes up from Fridays close but now the trends are testing the closes from above. Today's close on Wall Street will decide technically what will happen.

I will follow the markets all day and make short blogs.