Last Tuesday at US open a very strong uptrend started in SP500 and NAS. You can see this on NAS 2 hr chart just below.Having taken new highs the trends topped out and then fell down and closed at the days low. Yesterday at US open a new strong uptrend started and went on for eight hours and closed at the top. None of these two rallies could be seen coming in the charts. As I have said many times when NYSE opens there is a new game nearly every time. This has nothing to do with economic news only to make quick profits. FTSE and sometimes even DAX follows the US games to a certain degree. It is late June and the trading is only done between fast computers. Since the US close of their indexes affects Asia, especially Japan a few hours after the close this computer game decides the whole worlds next move. Only big unexpected news can stop these games for a while. The media are making up the news because they need a reason why the markets are going up or down.
SWED and to a certain degree DAX and FTSE tells the real trend. That is why they always show the way before big trend changes. At present all European indexes daily trends are down and all US daily trends are up. SWED and FTSE are close to break main support and eventually start bigger drops.
SWED and to a certain degree DAX and FTSE tells the real trend. That is why they always show the way before big trend changes. At present all European indexes daily trends are down and all US daily trends are up. SWED and FTSE are close to break main support and eventually start bigger drops.
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