Thursday, March 5, 2009

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evaluation survey on the 1997 level

Another negative trading day draws to a close. After yesterday's rally, many market participants believed in a recovery - at least until the end of week. But that never happened. The indices were beaten down again like mad. The American Stock Exchange index of the default values, the Dow Jones Industrial closed at their lowest level since 1997th And the other exchanges were not spared. The SMI closed, not a new low, but the Swiss main index lost over 1.5%. He was, however, still off lightly when the SMI compared with the German DAX, the now lost over 5%.

to chart's situation, there is not to say too much. From this perspective, the downward wave should not be forgotten. Although we are now exactly on the 138er Fibo of the last upward wave, but still I see no signs that would indicate a correction to the top. In particular, the indicators look quite bearish. TRIX and MACD still show a clear sell. Also increase the volatility is continuous on. Meanwhile, we are back on the 50 mark in the VIX. The High in the fall of 2008, however, was over 80 Conclusion: Short term I see it in negative. Long term should now be clear the current prices buying rates.

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