At close in N.Y. DOW, SP500 and FTSE were in a very strong uptrend and the close put the daily trend in a break out situation with the falling daily MA. So technically the whole Monday from opening to close will be of big importance for the daily trend. SWED ended in a downtrend for the day and 2 hr charts. DAX still in sideways trend and I see no immediate break out of current range.
The US governments closure and the debt ceiling is the main issues right now. The news ended with a positive interview with Boehner which might have been the reason for the 6 hour rally. The guessing could go on an other 10 days. My own feeling after having heard the news is that both the closure and the ceiling will be OK soon. To me the important thing is if the market dare to take new highs or if current rally is stopped now.
The technical picture is mixed. The monthly trends are all up and seem healthy. The weekly trend has sell signals on FTSE and DOW and the trends got crosses. SP500, DAX and SWED are sideways.
Nik is clearly in big trouble for downside with it's huge double top. HSI seems to move around in the top for now. Early indications says that Bonds is in for a trend change on upside soon. The big star and favourite is the Spanish IBEX with new highs.
And again do not miss the markets from start Monday.
The US governments closure and the debt ceiling is the main issues right now. The news ended with a positive interview with Boehner which might have been the reason for the 6 hour rally. The guessing could go on an other 10 days. My own feeling after having heard the news is that both the closure and the ceiling will be OK soon. To me the important thing is if the market dare to take new highs or if current rally is stopped now.
The technical picture is mixed. The monthly trends are all up and seem healthy. The weekly trend has sell signals on FTSE and DOW and the trends got crosses. SP500, DAX and SWED are sideways.
Nik is clearly in big trouble for downside with it's huge double top. HSI seems to move around in the top for now. Early indications says that Bonds is in for a trend change on upside soon. The big star and favourite is the Spanish IBEX with new highs.
And again do not miss the markets from start Monday.
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