China lifts the Dow but not enough
Dow Live: Futures are up carried by positive numbers on Asian markets. On wednessday, the Dow closed under 10000 for the second time this year as the Europen problems continue to contaminate the financial climate.
With all the focus on Greece and the European Union starting to bring forth the heavy armament to fight the downward spiral… problems still remain in the homeland. Add to this that although China keeps chugging along on positive numbers, there is a slowdown that shows tendencies of growing influential.
Chart by finance.yahoo.com
The massive machinery to fight the financial big bang may work, but will eventually put a huge toll on the recovery phase – which as we have pointed out time and time again, is not a reality yet. Additionally, the countermeasures and restructuring needs to be globally coordinated, or the malaise will just shift to another sector.
Short trading up, but we would not be surprised to see the Dow dip even further during 3:rd quarter.
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