With a 100 point rise yesterday, the DOW
crept back above the support level it had broken on Monday. But a glance at the chart shows the move was far from convincing.
Volume was low and there was a pull back from the high at the end of the day. So
the period of uncertainty continues. I am still holding tight and hoping for the
best.
The
S&P500 shows a more pessimistic pattern. It shows a distinct downturn in
the market. So far, however, it has respected a support line that was
established back in November. A break of that support line would add weight to
the bearish side of the scales.
In
Continental Europe stock markets appear to have been thrown into turmoil by the
Italian election and various jolts that result from news about the Euro Zone
and its difficulties. The movement of the German Dax shows what I mean.
The UK
seems to be following the DOW. Although it is weak it hasn't shown the same degree of volatility. There is however lots to worry about.
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