05/12/2011

All index trends are still up and I expect new highs

DAX has a gap at 6.342 and FTSE a gap at 5.617 which I expect to be closed in this uptrend. There is a possibility that IBEX, MIB, SWED and CAC will test the falling 8 months MA and DOW will test the high at 12.287 and SP500 will test 1.276.

The 2 hour trend has now been up since Nov 28. I still think  that what happens during this and the coming two weeks will be crucial for the long trends which so far are down.
However since the four big: DOW, SP500, FTSE and DAX have had the last four daily closes far below the highs there are sellers in the market.

No comments:

Post a Comment