Michael Clark

cheapbag214s

Michael Clark
Is this a Correction?
Thee seems to be quite a bit of disaagreement as to whether or not we are correcting in the markets or just pulling back in an otherwise normal bullish rally?
My view is that this is a Bear Market Rally -- and a giddy Bear Trap (to quote a pair of shoes my wife recently bought).
I have written that Asian stocks looks more healthy that US or European indexes. European indexes look pretty awful at the moment. Asian markets are notorious 'followers'; I have no doubt that when the Western markets begin a full correction, Asian markets will follow. But, at the moment, Asian markets are not showing,[url=http://woolrichparkaschweiz.albirank.net/][b]Woolrich Parka Schweiz Online Shop[/b][/url], at this point,[url=http://duveticapiumini.olimx.com/][b]Duvetica italy[/b][/url], the kind of tension that are showing in Western charts. Let's look at some Western charts,[url=http://woolrichparkaschweiz.albirank.net/][b]cheap woolrich winter[/b][/url], since thee are some indexes that are at very crucial points now.
The German Index (DAX) is a disaster. It has taken out two near-term levels of support already. It is trading at 4800.56 and needs to take out resistance at 5172 to continue its upward move,[url=http://duveticaouterwear.blogspot.com/][b]duvetica outerwear[/b][/url]. The next resistance level is at 4471,[url=http://duveticamen.blogspot.com/][b]http://duveticamen.blogspot.com/[/b][/url].
The S 500 Index is a much better picture,[url=http://woolrichoutletde.albirank.net/][b]http://woolrichoutletde.albirank.net/[/b][/url], trading at what appears to be a short-term bottom. The key is how strong this next rally proves to be. If it takes out resistance at 946.3,[url=http://monclerjackenonlinech.albirank.net/][b]Moncler Günstig[/b][/url], then the Bear Rally continues. If it fails, and falls below support at 852.52, then the rally has begun to correct.
The Dow Jones Transportation Index seems to be in a consolidation pattern already, cause between resistance and support levels,[url=http://billigmonclerjackenkaufen.olimx.com/][b]Billig Moncler Jacken[/b][/url], moving laterally. Support at 2983 needs to hold; resistance at 3404.11 represents the target for the next move up.
The OEX (S 100 Index) is in a pretty healthy up-move in terms of a technical pattern. If the next rally takes out resistance at 444.47,[url=http://duveticaitaliaoutlet.webmium.com/][b]duvetica jackets[/b][/url], then the rally is alive; if it breaks support at 411.69,[url=http://woolrichoutletdeutschland.halod.com/][b]Woolrich Damen[/b][/url], then the correction has begun.
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