Short DAX at 7740

.... my worstcase target from the 09/01/09 at 5270 is still holding. Let's see where the weekly bar will close today. 60% of the PIT traders in US are off today. Ok, we have PAYROLLS but seems to me they don't care about this figure today.

If the FDAX is making an EveningStar in the weekly charts, then market should continue on the down side next week. If FDAX is closing above 5450 this week, we should get a conformation that this down move was an extended abc-correction (5270 low = extended) only.

But we will see.

Good luck and have a nice weekend.

Kind regards.

Mike
 
From one friendly neighbourhood ibank :

"Valuation and earnings upgrades support higher returns
We have upgraded our European and global GDP forecasts recently and now expect 4% global GDP growth in 2010, well above consensus.


This, coupled with higher financials earnings, has resulted in a further rise in our top down profit forecasts. We now expect net income growth pre-exceptionals of -16% for 2009 (-23% ex financials) and +40% for 2010 (+37% ex financials). This puts the market on 10x 2010 earnings on our forecasts. We upgrade our year-end DJ Stoxx 600 target to 260 (from 235) and have a 12-month target of 275."
 
Surprise surprise infront of PAYROLL's..... 5380 ... 1st target on upside hit ... see maximum 5420 .... maybe this is the "4" in this dn impulse with new lows around 5260 or 5220.

Mike
 

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Quote from pcvix:

Please elaborate, ASusilovic.

Thanks!
More...

Lower volumes on relatively stable price action means hsorts either too weak or no further downside potential, read :

market should have gone up. Indeed,it did so!
 
What a ridiculous session, what a ridiculous market, what kind of ridiculous market participants ! 5 point range in 1 1/2 hours !

:mad:

That's not a market !
 
Quote from ASusilovic:

What a ridiculous session, what a ridiculous market, what kind of ridiculous market participants ! 5 point range in 1 1/2 hours !

:mad:

That's not a market !
More...

This just tells where is the money ... in the US.
 
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