Monday, 9 January 2012


 EURUSD remains in downtrend channel. Stops considered above 1.3050

SPX daily futures graph shows the overthrow we talked about before and although the red resistance is broken, the market looks unable to confirm this break. Dojis mainly visible in spot prices together with a declining eurusd may prove a negative factor for this index the next few days. 1200 could be tested if not lower.

MIB either in a triangle or in a 1-2-i-ii formation. Red support at least should hold. Early warning the break of the green triangle.

Eurostoxx looks corrective and with euro decling I think sooner or later the decline will be all over this index and the rest european indices.

All in all I have negative outlook for stock markets and the euro. I hope I'm proven wrong. Because the decline in the markets will come with very bad news......

No comments:

Post a Comment