DOUBLE TOP OR NEW WAVE UP ?
All indexes in same situation. Friday's close were either a small new high or close to a new high. Only NAS and SWED new highs on close. Next week is the most crucial this year. If further new highs are taken a new strong up trend is expected. Other wise the bull market is over. OIL and the EURO have built relatively strong bottoms. If that will continue I do not believe in a new high wave above recent tops. Interest rates in US has started an up trend from an extremely strong double bottom so the rates can only increase - question is only how fast. The 10 YEAR NOTES will be followed next week with OIL and the EURO. Greece and Ukraine will only be interesting for the short perspective.
Technically all trends are up in strong momentum but need to go even higher to show if new medium term waves takes the markets to a real blow out or not.
What I want to see is even more bullishness by market participants to guarantee a final move up. That is the top the bears are waiting for to short long term. The answer will come from next Monday.
All indexes in same situation. Friday's close were either a small new high or close to a new high. Only NAS and SWED new highs on close. Next week is the most crucial this year. If further new highs are taken a new strong up trend is expected. Other wise the bull market is over. OIL and the EURO have built relatively strong bottoms. If that will continue I do not believe in a new high wave above recent tops. Interest rates in US has started an up trend from an extremely strong double bottom so the rates can only increase - question is only how fast. The 10 YEAR NOTES will be followed next week with OIL and the EURO. Greece and Ukraine will only be interesting for the short perspective.
Technically all trends are up in strong momentum but need to go even higher to show if new medium term waves takes the markets to a real blow out or not.
What I want to see is even more bullishness by market participants to guarantee a final move up. That is the top the bears are waiting for to short long term. The answer will come from next Monday.
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