DAX near resistance as shown on chart. Expecting a minor
pullback at a minimum. If this resistance is broken, could see a
run towards the May 2011 high ~7600 and possibly the Jul 2007 high
~8100. Need easing of European banking/debt crisis and additional
stimulus talk by CBs to support bullish outlook. Lately CBs have
discovered that they can juice the equity markets by talking
up billions of fresh stimulus & bailouts.
--
Jackson Hole CB conference coming up. No surprises expected,
however Draghi and Bernanke may release a joint paper titled "How
to Print Your Way to Prosperity" and send it gift wrapped to Angela
Merkel.
--
IMO markets will continue to be influenced by economic data
and CB machinations. Emboldened by +ve July employment data, bulls
are talking up an Obamarama rally towards the S&P500 Oct 2007
high of 1565.
Stock market rebound means Obama will be
re-elected, says funds giant
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DAX resistance & Obamarama 2012 S&P500 rally
Posted by rixx on 15th of Aug 2012 at 09:21 am
DAX near resistance as shown on chart. Expecting a minor pullback at a minimum. If this resistance is broken, could see a run towards the May 2011 high ~7600 and possibly the Jul 2007 high ~8100. Need easing of European banking/debt crisis and additional stimulus talk by CBs to support bullish outlook. Lately CBs have discovered that they can juice the equity markets by talking up billions of fresh stimulus & bailouts.
--
Jackson Hole CB conference coming up. No surprises expected, however Draghi and Bernanke may release a joint paper titled "How to Print Your Way to Prosperity" and send it gift wrapped to Angela Merkel.
--
IMO markets will continue to be influenced by economic data and CB machinations. Emboldened by +ve July employment data, bulls are talking up an Obamarama rally towards the S&P500 Oct 2007 high of 1565.
Stock market rebound means Obama will be re-elected, says funds giant