Bulls ready for another Dow push?
The week start may have looked good but there is still a great sense of unease on DJIA and the global markets. Dow Jones Industrial keeps testing the very strong hurdles as the 10,300 level which is the Dow moving average for the last 3 quarters.
Futures are.. ambivalent, and while not set in stone indicate that the Bulls will be pushing again for a day of gains.
This is shortterm and if you look at the longer perspective, we mantain our view that the “recovery” you read about in media is premature and essentially nonexistant in view of the financial problems gaining momentum in various parts of the world.
Since everything is interconnected and one nation´s economy impacts the other on a daily basis, the repercussions of the European debility, the fact that Japan is sailing into more problems and the domestic situation which hangs in the balance…. we can expect a very turbulent summer on the markets.
Related posts:
- China lifts the Dow but not enough
- Did Bernanke hint at further decline?
- World Economy – Ready for the Big Bang?
- Slow start on another bumpy week for the Dow
- Are you ready for the tumble?
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