04/07/2015

My view

The most important MA when it comes to decide if a trend has turned down is if the 8 month MA has turned down and now trading below that line. DOW is the first index to do just that. If it rallies on upside during July the MA will rise. How ever right now the market are waiting for Sunday,s referendum in Greece and can rally on upside on a Yes vote. A No vote should push the markets down.

Many indexes weekly chart have crosses on downside, a strong indicator for continued downside trend. The Daily trends are down as well but these bottoms now are close to the rising 200 MA which might give support.

The worlds biggest company Apple has started to show weakness. It has a range 121-134. A break beelow 121 is dangerous.

Iran - US deal goes slowly now but when a decision is made the markets will react. Company results for second quarter will soon be out.

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