28/12/2011

All up trends are still in place and the indexes are moving slightly higher and higher

The U.S. indexes are strongest and there is today and two more days to month end.
I am looking for any sort of weakness in the charts but the daily up trends are very strong so far. The European indexes big picture is much weaker than the Americans.
Here is a chart of DAX that shows weekly movements during 2011 in a special angel. DAX has fallen 23 percent from high until now.
Every black bar is one week. The trend is locked in a triangle. The trend will break out of this triangle during January I think and I do not know if the break will go on upside or downside now but I will find out before it happens. The triangle out look tells me that the break out will be powerful and set the new trend for European indexes.


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