The US indexes are still taking new highs nearly every day and the monthly chart could go on for ever as it looks. The only thing which could be dangerous is that the weekly charts are loosing momentum on upside and must reach a peak sooner or later. That peak will be followed by a correction. How big that correction will be is difficult to say now.
SP500 is the main US index which short term trend is followed by DAX, FTSE and SWED. The main index in Europe is DAX. My view is that the DAX has reached its peak and is now waiting to start falling last when SP500 has reached its peak.
This waiting period for the SP500 makes the markets less interesting to follow by many investors. This is only a market for day trading and a very difficult sort of day trading as well with quick turnarounds. To me this is the lull before the storm which can go on until the end of this year. But sudden big bad news can make the storm come quickly. For instant a war situation by mistake or a sudden drop of the oil price to the 55 level.
As you know now I am not writing much in my blog by the day while this waiting period goes on and I know my viewers do not need any comments for each chart after four years of learning how they should be interpreted.
Remember that this is the lull before the storm.
SP500 is the main US index which short term trend is followed by DAX, FTSE and SWED. The main index in Europe is DAX. My view is that the DAX has reached its peak and is now waiting to start falling last when SP500 has reached its peak.
This waiting period for the SP500 makes the markets less interesting to follow by many investors. This is only a market for day trading and a very difficult sort of day trading as well with quick turnarounds. To me this is the lull before the storm which can go on until the end of this year. But sudden big bad news can make the storm come quickly. For instant a war situation by mistake or a sudden drop of the oil price to the 55 level.
As you know now I am not writing much in my blog by the day while this waiting period goes on and I know my viewers do not need any comments for each chart after four years of learning how they should be interpreted.
Remember that this is the lull before the storm.
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