The Swiss team are sticking to their view that this is all part of the price distribution that marks out a top building period for the US indexes. The recent break of 1709 on the sp500 as well as the euro index strength were game changes for them and hence they have extended their call for a 15 to 20% correction into Q1 2014. In line with this they forecast a bounce later this week. Technical weakness persists with pockets of cyclical strength alongside a commodity higher low which they maintain is constructive and meaningful. They pick up on the softs which we have already mentioned on the forum discussions.

Without more delay here the latest award winning technical analysis from the Swiss team.

wklytech-01-10-13

 

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