Despite my observation on the weekly candles for the S&P I think we could be putting in an important lower top here on the Dax .Clearly we need to see how it closes before getting presumptuous about the daily candle but it is looking ok for bears so far. My assumption would be that we are forming a B wave,with sharp C down to come,but it could be a wave 2 of course
If the European markets sell off will money flow to the US markets ? It is possible it could for a while but generally the larger European markets and the US move broadly in lockstep so this will be interesting.The emerging markets were the ones to lead this time round
this post on NYMO from Keystone is more cautious on the S&P than my weekly candle chart
http://thekeystonespeculator.blogspot.co.uk/2013/07/nymo-mcclellan-oscillator-signals_15.html
If the European markets sell off will money flow to the US markets ? It is possible it could for a while but generally the larger European markets and the US move broadly in lockstep so this will be interesting.The emerging markets were the ones to lead this time round
this post on NYMO from Keystone is more cautious on the S&P than my weekly candle chart
http://thekeystonespeculator.blogspot.co.uk/2013/07/nymo-mcclellan-oscillator-signals_15.html
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