After last week's rally in risk ended on a positive note in New York on Friday, it continues this morning with the Euro Stoxx 50 up 1.80% as of this writing. Looking at the charts, the Euro Stoxx 50 is now slighly busting above previous support (2850), which this time around should hold as resistance […]
We pointed this out earlier this week but here it is again. Note the red uptrend line in place since May 2010…it is not in danger of being breached. Throw in seasonal weakness tendencies and a miriad of other headwinds and this doesn't bode well for risk.
Ain't no shame in this game…and risk assets are tumbling early this morning in Europe. The dollar is a beast and ramping higher. Looking at a chart of the Euro Stoxx 50, note the support area at the 200 day moving average (blue line) that got violated to the downside today. Also note the next […]
As flagged several times the past few weeks, the Euro Stoxx 50 index was in danger of breaking a major uptrend line that has been in place since May 2010. That uptrend has now officially been broken as the index closed below it two days in a row and today is continuing that slide. […]
I wanted to point out the support area again on the Euro Stoxx 50 this early morning. The uptrend line has been solid support since May 2010 and that is again where price has meandered to over the past two days. It's make or break time here as far as I'm concerned. If we break […]