11/10/2014

All things considered after Friday close Oct 10, 2014

After four down days in a row and closes at the low the technical outlook has become negative even for the US indexes. However DAX is the most interesting index with a one year low and a close at 8.766 which is below  the neckline at 8.908. The 8 week MA has turned down below the falling 21 MA. I anticipate that this is a H&S. If so the target is 7.769. There is a chance for a retrial of the neckline next week and it is not completely sure if it has fallen far enough on close to avoid a retest. The bear market continous but the daily trend for next week is unclear.

FTSE stopped at the last support and SWED is not fully clear for new lows immediately. SP500 and DOW also closed at the low for the week but still has a bit left to break point. NAS did its longest dip for a long time.

Monday will be crucial for next move and it will start at opening. I still have difficulties not to remember the black Monday Oct 17, 1987 which I have written about earlier.

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