CAC Cont'n Trader who shorted this chart should have been stopped out. Prices are stabilizing above the 3540 Gann line and above the MOB. While the 3750 MOB appears to be the next target, I expect resistance at 3670. Prices are currently over extended so a downward reaction is in order for the very near term.
DAX Index This chart reached the first MOB and it appears to have enough strength to move past it. I expect an attempt at the 7800 MOB if this chart has enough strength to move above the top of the Gann square at 7715.
DJ EUR Stoxx50 Cont'n This chart is ready to move above the 2630 Gann line and the smaller MOB. Slightly above that smaller MOB is the grand daddy of MOBs. That should put the brakes on this rally…at least for a little while.
Mini MIB Continuation This chart is busy testing the downtrend line from which it broke. I expect that line to provide buyers as prices then resume the trip up to the MOBs.
SMI Index
This chart demonstrates my theory of a Triple Top..With triple tops, when new highs are made, the are normally not dramatically higher. Nonetheless, they manage to chase shorts out of the market.
