Still 50 percent chance for DOW and SP500 to take new highs. This week closed at the same level as last week which is a warning that within the next 2 weeks they must get new closing highs. Another weekly close at the same level or lower is often a sell signal for weekly trends. The daily trends creep upward with the help of short covering hunt by robots.
FTSE and DAX will see their daily 8 MA;s turn down Tuesday if we get the same close or lower on Monday. That is a warning sign that a downtrend might start soon. SWED so far is up on all charts.
Next week will probably be as choppy as this week and I am looking for a sign that the highs have eventually been seen. Still vacation trading in Europe with thin volume. Wednesday is last day in July and the monthly close.
FTSE and DAX will see their daily 8 MA;s turn down Tuesday if we get the same close or lower on Monday. That is a warning sign that a downtrend might start soon. SWED so far is up on all charts.
Next week will probably be as choppy as this week and I am looking for a sign that the highs have eventually been seen. Still vacation trading in Europe with thin volume. Wednesday is last day in July and the monthly close.
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