The coming few weeks will show if the tops are reached. Technically all index can move both on upside or downside. SP500 and NAS will show the way now. The strong weekly and monthly up trends will most likely hold and the sideways moving daily trends does not seem dangerous for now. As long as SP500 is holding above 855 the upside is most likely but another close Thursday or Friday below this very important line is a warning for a dip to 834 level. I do not see a new all time high in any index after yesterday's US close. On the other hand there are strong supports at the last five trading days lows so I expect choppy trading and long bars but no immediate break out from current sideways trend.
Since Angela Merkel now has said no to economic sanctions against Russia I expect a strong start this morning in Europe. Today's news from the US about Jobless Claims and GDP can move the market but Asia closed up and that is more important. The latest news from America about the strong consumer numbers will underpin the markets I think.
Since Angela Merkel now has said no to economic sanctions against Russia I expect a strong start this morning in Europe. Today's news from the US about Jobless Claims and GDP can move the market but Asia closed up and that is more important. The latest news from America about the strong consumer numbers will underpin the markets I think.
No comments:
Post a Comment