Technical Weekly 27032006
EQUITIES
In Europe, the long-term trend is rising for 91% of the stocks (Stoxx 600), the medium-term trend is rising for 84% and the short-term trend is bullish for 77%.
As you can see the overall trend remains strong.
Most stocks are still advancing.(45.83%) but note also that 205 stocks (34.17%) are already caught in a short term correction.
So, I can’t exclude the possibility of short- term pullbacks but I don’t expect a major bearish reversal.
In the US, the market is trend-less but as long as the SP 500 holds above 1295, the bulls are still in charge.
COMMODITIES
BrentThe short-term trend remains neutral and I'm waiting for clearer indications.
Gold
Gold rebounds on the support at 540$ and a break above the symmetrical triangle pattern would be very bullish.
GERMAN 10 YEAR YIELD
As I said in the last publication, the short- term trend is improving for bonds and a pullback to the 3.45% level seems now likely.However the medium and long -term trend are bearish.
EURO-DOLLAR
The breakout above the 1.2 level has been followed by a significant pullback.Nevertheless I still believe that the rate could reach 1.24 in the coming weeks.
In Europe, the long-term trend is rising for 91% of the stocks (Stoxx 600), the medium-term trend is rising for 84% and the short-term trend is bullish for 77%.
As you can see the overall trend remains strong.
Most stocks are still advancing.(45.83%) but note also that 205 stocks (34.17%) are already caught in a short term correction.
So, I can’t exclude the possibility of short- term pullbacks but I don’t expect a major bearish reversal.
In the US, the market is trend-less but as long as the SP 500 holds above 1295, the bulls are still in charge.
COMMODITIES
BrentThe short-term trend remains neutral and I'm waiting for clearer indications.
Gold
Gold rebounds on the support at 540$ and a break above the symmetrical triangle pattern would be very bullish.
GERMAN 10 YEAR YIELD
As I said in the last publication, the short- term trend is improving for bonds and a pullback to the 3.45% level seems now likely.However the medium and long -term trend are bearish.
EURO-DOLLAR
The breakout above the 1.2 level has been followed by a significant pullback.Nevertheless I still believe that the rate could reach 1.24 in the coming weeks.
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