Last Friday's US good labor news sent the DOW to a new 5 year high with a few points intraday and close. SP500 reacted the same way but no highs. DAX rallied as well and kept a strong position for the beginning of this week.
FTSE rose strongly as well but fell back big before close and NAS is still in a sideways trend.
The technical picture for DOW, SP500 and DAX are strong regarding the daily and weekly trends. FTSE has still a falling weekly trend on opening Monday.
Tuesday after the US close the first company will release the third quarter result and start several weeks of reports. I expect at least Monday and Tuesday to hold up but later in the week especially Friday the technical situation could start to deteriorate if not new highs are taken.
US indexes open for the week in four minutes in Asia and before Europe opens I hope I have a more clear picture. One thing is still for sure, October will be the most interesting month regarding all trends in 2012.
FTSE rose strongly as well but fell back big before close and NAS is still in a sideways trend.
The technical picture for DOW, SP500 and DAX are strong regarding the daily and weekly trends. FTSE has still a falling weekly trend on opening Monday.
Tuesday after the US close the first company will release the third quarter result and start several weeks of reports. I expect at least Monday and Tuesday to hold up but later in the week especially Friday the technical situation could start to deteriorate if not new highs are taken.
US indexes open for the week in four minutes in Asia and before Europe opens I hope I have a more clear picture. One thing is still for sure, October will be the most interesting month regarding all trends in 2012.
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