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DJ Euro stoxx 50

8 Jul 2015 ‚óŹ 07:00 AM

European stocks broke their previous swing lows in 5 waves down, indicatin extentions to their downtrend. This should break the 40 week averages as well. The negative quarter closing was already indicative of a major trend change and yesterdays break down appears to confirm it. The Euro stoxx index below broke below the lower channel line as a sign that the trend down is accelerating. This chart indicates that we are heading for a Grexit panic. Whether its a panic in expectation of the event only we dont know. But panic may continue till Friday night. Then god knows.

dax080715

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