Sunday, August 21, 2011

Weekend Video Update: European Sovereign Debt Problems Spill Over into Global Equity Markets


Once again, the problems with sovereign debt in Europe  spilled over into the global equity markets,  and in particular the bank stocks. Europe is “the tail that wags the dog”, and in this case,  it’s the world.
For the 4th straight week, US equities closed lower and under heavy selling pressure.  Gold on the other hand soared to new highs, on fears that the sovereign debt crisis is escalating and getting totally out of hand. (It’s already out of hand).
With world equities coming under pressure crude oil was not immune to the potential of less demand for this commodity. With that in mind crude oil slipped 3.6% for the week.
So there you have it, the trends continue,  and these trends are likely to continue in the near future.
Now,  let’s go to the weekly charts and see what happened last week in the major markets according to our Trade Triangle technology.
S&P500: change for the week: – 4.68%
Monthly Trade Triangles for Long Term Trends: = Negative
Weekly Trade Triangles for Intermediate Term Trends: = Negative
Daily Trade Triangles for Short-Term Trends: = Negative
Combined Strength of Trend Score: = – 100
Silver: change for the week: + 9.76%
Monthly Trade Triangles for Long Term Trends: = Positive
Weekly Trade Triangles for Intermediate Term Trends: = Positive
Daily Trade Triangles for Short-Term Trends: = Positive
Combined Strength of Trend Score: = + 100
Gold: change for the week: + 6.02%
Monthly Trade Triangles for Long Term Trends: = Positive
Weekly Trade Triangles for Intermediate Term Trends: = Positive
Daily Trade Triangles for Short Term Trends: = Positive
Combined Strength of Trend Score: = + 100
Crude Oil: change for the week: – 3.65%
Monthly Trade Triangles for Long Term Trends: = Negative
Weekly Trade Triangles for Intermediate Term Trends: = Negative
Daily Trade Triangles for Short Term Trends: = Negative
Combined Strength of Trend Score: = – 90
Dollar Index: change for the week: – .77%
Monthly Trade Triangles for Long Term Trends: = Positive
Weekly Trade Triangles for Intermediate Term Trends: = Negative
Daily Trade Triangles for Short Term Trends: = Positive
Combined Strength of Trend Score: = + 55
CRB Index: change for the week: + 2.97%
Monthly Trade Triangles for Long Term Trends: = Negative
Weekly Trade Triangles for Intermediate Term Trends: = Negative
Daily Trade Triangles for Short Term Trends: = Negative
Combined Strength of Trend Score: = – 100


Unlimited access to this and other trading videos FREE! Click Here!

No comments:

ShareThis