DAX is the strongest index with a powerful up trend to test the highs. NAS is the weakest with a falling daily 50 MA now crossed by the 8 MA. FTSE and SWED are sideways but will most certainly break on up or down side the coming week. SP500 and DOW also sideways but in the top area with a very choppy week without trends.
DAX has reached a strong R area on Friday close and the opening Monday at 08:00 will be very interesting for the whole week. The weakness of NAS is definitely holding SP500 and even DOW back from testing the highs. So NAS is the most important chart to watch from opening at 00.00 Monday and for the days to come regarding the US indexes. DAX is moving alone so far in Europe and SWED and FTSE might break on upside if DAX strength continues.
The Asian markets are also mixed but the weekly trends are down. The 10 year note trend is still down and a new low can come or the bottom can hold. Gold has not signalled an end to the down trend.
All in all no fundamental news happened this week and this coming week there will be lots of US news and the markets are focusing already on March unemployment situation later in the week.
My own feelings over all are mixed and I want to see the monthly close on Monday before making a prognosis. Longer term I see the current situation as the beginning of a strong downside correction which technically can start any day on bad news.
DAX has reached a strong R area on Friday close and the opening Monday at 08:00 will be very interesting for the whole week. The weakness of NAS is definitely holding SP500 and even DOW back from testing the highs. So NAS is the most important chart to watch from opening at 00.00 Monday and for the days to come regarding the US indexes. DAX is moving alone so far in Europe and SWED and FTSE might break on upside if DAX strength continues.
The Asian markets are also mixed but the weekly trends are down. The 10 year note trend is still down and a new low can come or the bottom can hold. Gold has not signalled an end to the down trend.
All in all no fundamental news happened this week and this coming week there will be lots of US news and the markets are focusing already on March unemployment situation later in the week.
My own feelings over all are mixed and I want to see the monthly close on Monday before making a prognosis. Longer term I see the current situation as the beginning of a strong downside correction which technically can start any day on bad news.
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