Wednesday, May 25, 2011

Market commentary 25 May 2011 - confirmation of a trend change

Market commentary

The markets just cannot seem to keep the head up above the water... An early effort of the S&P500 came to naught at the end of the day, and today during Asian trading hours, the S&P500 futures are trading lower. European, particularly Greek debt restructuring is affecting markets such that the Euro is being dumped for USD and Gold.

Yesterday's market close confirms the interim top on the S&P500 (futures) with a trend change pattern completed. This trend change pattern is a typical lower high, lower low that is repeated twice and breaks the final low.

Watch commodities struggle with a rising USD, and Precious metal move up with USD rally, while equity markets move downwards over the next few weeks...

MadScientist
25 May 2011

No comments:

Post a Comment