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Are we looking at a rollover next week in the markets
Posted: Fri Oct 21, 2011 4:04 pm
by dcurban1
I know everyone is focused on the trading day today but I want to share some charts on the European and US markets with everyone. From my perspective, when combined with the negative earnings and newsflow from Europe we may be in for a pullback starting in the next week or so.
We are at or close to some important resistance levels and we may see some selling if Nero continues his fiddling tour across Europe.
Re: Are we looking at a rollover next week in the markets
Posted: Fri Oct 21, 2011 4:41 pm
by Cobra
dcurban1 wrote:I know everyone is focused on the trading day today but I want to share some charts on the European and US markets with everyone. From my perspective, when combined with the negative earnings and newsflow from Europe we may be in for a pullback starting in the next week or so.
We are at or close to some important resistance levels and we may see some selling if Nero continues his fiddling tour across Europe.
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thanks for the European chart. I only see divergence between Europe and SPX where SPX made a new high today while European not but the next Monday may change everything, either Europe follow the SPX or they drag down the it. Let's see.
Re: Are we looking at a rollover next week in the markets
Posted: Fri Oct 21, 2011 5:05 pm
by Unique
Re: Are we looking at a rollover next week in the markets
Posted: Fri Oct 21, 2011 6:27 pm
by dcurban1
I have seen people making arguments for both lines on those charts.
What worries me is the press keeps talking about how they are settling the Euro crisis yet the reality is they continue to have breakdowns and a distinct lack of progress. Even Merkel said that this is not the Holy Grail.
Word is the French banks are fighting a 50% or more writedown on the debt, up from the 21% agreed to this summer.
Right when the breakdown hit the wires the rally started and on a late Friday afternoon no less with the market up ~15% from Oct. 4.
This does not feel right to me.
Re: Are we looking at a rollover next week in the markets
Posted: Fri Oct 21, 2011 7:57 pm
by Unique
dcurban1 wrote:
I have seen people making arguments for both lines on those charts.
What worries me is the press keeps talking about how they are settling the Euro crisis yet the reality is they continue to have breakdowns and a distinct lack of progress. Even Merkel said that this is not the Holy Grail.
Word is the French banks are fighting a 50% or more writedown on the debt, up from the 21% agreed to this summer.
Right when the breakdown hit the wires the rally started and on a late Friday afternoon no less with the market up ~15% from Oct. 4.
This does not feel right to me.
Either way, we gonna profit
edit, I really don't care which way it goes, once a winner is determined, it's a big ass wave that everybody and their mom could get on and ride it. Lots of $$ to be made..
