DOW and SP500 trends are the strongest. So far, every day a rally to new highs has occurred when the 8 MA has turned up instead of crossing the rising 21 MA in the 2 hr diagrams. This cannot go on forever. Today the European indexes looks to be on the verge to change the 2 hr trends to down. The euro seems to have hit its roof and gold in euro has stopped falling - now moving slowly sideways. Dollar gold trend is still down also short term.
I think short sellers are in the Europeans indexes this morning. If Europe dips there is a chance that SP500 might get a 2 hr sell signal as well so keep a watch at the hourly US charts today. I expect profit taking today Friday after this weeks strong up trends.
I think short sellers are in the Europeans indexes this morning. If Europe dips there is a chance that SP500 might get a 2 hr sell signal as well so keep a watch at the hourly US charts today. I expect profit taking today Friday after this weeks strong up trends.
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