Our technical indicators (not shown) have had us calling for a rally in Europe’s markets off their short-term oversold condition beneath 50-day moving averages.
For a couple of weeks it was just not happening. Every time they tried to rally they were hit with more bad news, either on their economies or in the form of renewed hostilities between Russia and Ukraine.
However, they finally received a calm spot within which they have been rallying.
The next question is whether having rallied back to their 50-day moving averages, they will be able to break through that potential resistance, as the U.S market has, or will their rallies find the 50-day m.a to be resistance that halts yet another rally attempt?
The new issue of our Street Smart Report newsletter will be out tomorrow with our technical indicators, short-term, intermediate-term, and long-term, and in depth analysis of the economy and markets, including stocks, bonds, and gold.
To subscribe online click here: https://streetsmart.securesites.net/order.html
To read my weekend newspaper column click here: Is it Time To Ignore the Fed-
Images: Flickr (licence attribution)
Sy Harding publishes the financial website Street Smart Report Online and a free daily Internet blog at Sy’s Free Blog. In 1999 he authored Riding The Bear – How To Prosper In the Coming Bear Market. His latest book is Beat the Market the Easy Way! – Proven Seasonal Strategies Double Market’s Performance!
It includes our research and analysis on the economy and markets, and provides charts and buy and sell signals on the major market indexes, sectors, bonds, gold, individual stocks and etf’s, including short-sales and ‘inverse’ etf’s.
It provides two model portfolios as guides. One is based on ourSeasonal Timing Strategy, one on our Market-Timing Strategy.
In depth updates are provided every Wednesday, with interim ‘hotline’ updates every time we make a trade. An 8-page traditional newsletter Street Smart Report is provided on the website every 3 weeks, in pdf format for viewing or printing out.
There is the Street Smart School of online technical analysis ‘seminars’,commentaries to keep you ‘street smart’ about Wall Street, and much more.