26/09/2012

DOW, SP500, NAS, FTSE and DAX 8 days MA:s are down and the 21 MA:s are up in early Europe trade.

The US indexes closed at Tuesdays bottom and has broken the break down points but Asia has lifted the indexes which are now moving sideways above the closing points trying to get above the break down points. FTSE and DAX have not taken new lows yesterday or early this morning and the trends for today so far are sideways and they  can go both up and down after current consolidation. So far there are no clear signs that the sharp fall the last hour on Wall Street will continue. NAS is the only index that has closed below the 21 day MA.

The Euro has taken a new daily low and is just above its rising 21 day MA which I expect will give support.

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