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.

More on the euro: following the Greece market?

The Greece market has broken critical supports. The euro is following the same pattern. Technically, we should see new lows in the euro. The up-trending channel is at risk. I am thinking in 1.25 the first target if it breaks 1.3222. In addition, take a look at the relationship between the Euro, the 10 year treasury bond yield, the Greece market and the S & P 500.  The treasury bonds keep their soft down trend while the Greece debt is going down. The fly to quality is absent, the question is: how long?. The S & P is almost reaching  its target at 1,228 points. I am wondering which could be the effect in the markets if a debt crisis begin in Europe.  

ATG daily chart: notice the positive divergence in the MACD. May be we could see a double bottom. 1.790 points is the critical pivot point. 

ATG weekly chart:

Relationships between the different markets: notice how during the second semester of 2009 the negative correlation between the TNX (10-year treasury note index) and the ATG. In addition, the euro has become irrelevant with respect the SPX. It seems that there is no correlation between them.

  

Euro/Usd monthly: important support.

Euro/Usd weekly:

TNX daily chart: