Wednesday, 7 December 2011

Consolidaton or topping? SPX-DAX-DJI

DJI holds the red upward line and looks like it is going to break upwards the last 2 days of consolidation.

SPX is in the same position with DJI. The resistance area of 1260 works like a magnet for the index. The upward trend shown from the red line still holds in place. Topping takes time but a last upward burst towards 1275 may take place.

DAX has been moving outside the upward trend channel but sideways. Consolidation here too. Breaking 6170 may lead to 6300. Staying out of the markets and on the sidelines ready to fire is my favorite tactic at this period although I see a top forming.

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