ATHEN (weekly info)new low 1431.33
trend=down
low= 1431.33
rev= 1661.68; mid= 1546.51
Greece is about to wipe out all gains made in 2011. When it takes out the 2011 low from the week ending 1/14/11 expect the restructuring talk to reach a crescendo.
IBEX (weekly info)-no change (above mid)
trend=no
direction=up (1 bar)
high= 11068.10
rev= 8923.40; mid= 9995.75
It's been fighting to stay above its monthly 3LB mid since it crossed above it in Jan 2011. This week will close above the SMA(21) and SMA(89). The housing market in Spain is in worse condition than in the US (but not by much). The line in the sand is its SMA(55). If that's gets breached then Spain will pick up the red phone to the IMF and all hell will break loose in the Eurozone.
16 comments:
@Andy
That's always a good idea (to "chop") in the end if you make the final two...
Bird in hand...
I still think we'll see the Euro at 1.50 by next Tuesday...
Remember, Many European markets are closed on Monday...
http://www.cnbc.com/id/42811629
French Mull Including Budget Deficit in the Constitution
...Yes, it seems even the French have seen what Germany did, and think it is a peachy idea. We have the world's worst ruling body.
"We have the world's worst ruling body"
Is that what they do in a so-called "democracy"?
Rule?
Gold 1540 check...
Chicago PMI WTE at 67.6 (exp 68.0)
This is why the amendment is the right first step. If you "try" to make cuts before you establish how much money you are trying to stretch for the month, it doesn't work. You start with how much income you have. X. Then you budget 1/10 x for food, 1/10 x for gas, and so on and so forth. The French see that the Germans are only going to get stronger economically, probably the only country in Europe who will prosper, and the French see that cutting and selecting here and there is not working. Hence, they amend the constitution. Now you start with 10 bucks and you divvy up the tenner to all the kids.
Only sensible way it can really work.
Warning! Warning! DXY breach of yesterdays low coming soon.
The WTI just chopping and consolidating near the highs....it just doens't look bearish. Looks like it wants to set a new high on the move.
Silver keeps running into major resistance above 49...
AR.
Got, yet another, "triangle" feel on the Silver...maybe dip down to 46 now....just congest in a triangle.
Andy T
I see a triangle on the 30min chart where the apex will be Monday morning.
Gotta be honest...Kate Middleton looked pretty slammin'
Wow. Gold shot through 1550 (after a few tests) like it wasn't even there.
It seemed like gold had room to "catch up" with the relative move in Silver.
Bob Pisani telling the audience: "No Way would I sell in May and go away...not with the Fed behind you."
Gold above 1560. Didn't think I'd see that THIS week. At this rate 1600 by June is almost a given.
I would like to use a word that's been thrown around a lot recently: "All gains on the SPX are transitory."
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