Wednesday, May 5, 2010

European and american indexes

Continuing with the previous posts on the european markets, lets see some interesting coincidences and patterns.

The S & P 500 in euro: 61.8% reached, and uptrending. Look the RSI.



The DAX in US Dollar. Same fibonacci retracement reached... but downtrending.



Finally, look the weak recovery in the Athens market, in which it only reached the 38.2% fibonacci retracement:


We should wait for the week to finish, but the we can reach preliminary conclusions.
First, the american index is uptrending, and we can see a "flight to american securities", not only treasuries. The american stock market is resisting the european crisis.... but will it make it?

The Greece market is in free-falling, (obvious), and we can expect to reach the March 2009 lows. Then, a 10% correction in ATG and 7/8% in the DAX is likely to occur in the next weeks.

Finally, the DAX and the S & P had the same resistances in different currencies (the 61.8% fibo). Quite interesting.

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