Two Steps Froward, Three Steps Back?
- The futures are pointing to a higher opening this morning. Is this the beginning of another week where the market rallies on the first two days…and rolls back over in the last three days? The plethora of announcements over those three days will be very important to the answer to this question.
- The STOXX Europe 600 Index has broken slightly below its trend-line going all the way back to the 2020 pandemic lows. The very slight break is not enough to confirm a change in trend, but if it also breaks below its March lows and its 200-week MA at any time in the coming days/weeks, it’s going to be a very negative development on the technical side of things for the European markets.