12/10/2012

DOW, SP500 and DAX daily trends down and weekly trends up

Very small movements at CET 12.00 in Europe and earlier in Asia. US opens in 3 hours.

The 3 strongest indexes DOW SP500 and DAX are still holding above the strong support from the weekly 8 MA. This is the fifth week sideways and no signs yet of a break down but a new top does not seem likely.

FTSE daily trend is sideways now, weekly trend down.

SWED use to be the index which shows the way for the markets. SWED has the daily, weekly and monthly trends down and has the overall weakest picture of the indexes.

Since there are more than 9 hours left of the trading week I do not know what eventually will happen and the 2 hour trends do not give a lead we just have to wait and see.

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