Home > Uncategorized > 2012/03/29: Courtesy ‘Brief Update’ on potential Equities reversal due to Europe

2012/03/29: Courtesy ‘Brief Update’ on potential Equities reversal due to Europe

© 2012 ROHR International, Inc. All International rights reserved.

Short & Sweet on the specific market comments in this post, because today’s TrendView Brief Update was such an extended discussion of the potential for a psychological shift in the equities trend. Might that possibly be the beginning of a more substantial significant trend reversal as well? That’s quite a bit more problematic into the beginning of a new quarter next week. However, if the June S&P 500 future should remain well below last week’s 1394.10 Close tomorrow for this week’s Close, that would be the worst week-on-week activity exhibited so far this year.

And after the new trading high (i.e. above last week’s 1,407.80) not seen in most other equity indices, that would also be a weekly DOWN Closing Price Reversal (CPR.) While across time any technical topping pattern can be overrun, it would represent the first bona fide technical DOWN signal on actual price movement since last summer.

And all of this happens to be occurring just as the global economic data is turning a bit weaker; perversely enough except for Japan. And yet, there are a couple of more telling considerations which may be the key to the weekly Close that go beyond tomorrow’s extensive global economic data

Those would be the European finance ministers’ and central bankers’ meeting in Denmark, and the Spanish Cabinet 2012 budget vote. Those last two are going to create a contentious bit of background. Whether the new conservative Spanish government can and will deliver enough austerity to satisfy the folks at the meeting in Denmark will possibly affect whether the full €700 billion of European bailout funding is approved.

And if Spain does deliver, it creates another Jerry Maguire (“show me the money“) Moment for Germany and its northern European colleagues. Will they finally deliver timely funding for the European Financial Stability Facility (EFSF) and European Stabilization Mechanism (ESM)?

It’s going to be very interesting. We hope you enjoy the read.

In the meantime, there are no General Market Observations or EXTENDED TREND IMPLICATIONS technical insights here today, because anything we had to say on that was in the Brief Update. We also still encourage anyone who has not done so already to click into the two key enhanced items in theColor-Coded Calendar” section in the right-hand column.

We will also be adding an update to the Current Rohr Technical Projections – Key Levels & Select Comments (also available in the right-hand column) after the US Close today to clarify the trend levels into tomorrow’s key activity.

Thanks for your interest.

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