Both indexes have now got the daily 8 MA down and the 1 hr trends are down as well with the 50, 100 and 200 MA in the right order. The hourly trends closed in New York below the important S lines at SP500, 694:86 and DOW, 15.292.7. So far in the early morning there has not been an hourly close above the S lines from below. The indexes looks vulnerable for downside against these backgrounds.
The big fundamental question in the US is if congress will vote for additional money to the government. This situation can either come to a solution or not during Thursday and Friday but could also drag on into next week. The trading in the US indexes is very subdued and few traders want to take positions before the matter is solved. The European markets FTSE and SWED also closed down and got falling 8 day MA:s Wednesday but DAX is holding up well. However the technical situation use to show in advance these fundamentals solution. Right now it is important to follow the hourly trends. Usually in a situation with falling daily 8 MA and rising 21 MA the price movements will be between these MA:s.
The big fundamental question in the US is if congress will vote for additional money to the government. This situation can either come to a solution or not during Thursday and Friday but could also drag on into next week. The trading in the US indexes is very subdued and few traders want to take positions before the matter is solved. The European markets FTSE and SWED also closed down and got falling 8 day MA:s Wednesday but DAX is holding up well. However the technical situation use to show in advance these fundamentals solution. Right now it is important to follow the hourly trends. Usually in a situation with falling daily 8 MA and rising 21 MA the price movements will be between these MA:s.
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