Home > Uncategorized > 2012/07/10: Quick Post: Courtesy ‘Market Alert’ on Equities back up to key resistance

2012/07/10: Quick Post: Courtesy ‘Market Alert’ on Equities back up to key resistance

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

Short & Sweet on the specific market comments in this post, because today’s TrendView Market Alert is a pointed discussion of the most recent Euro-zone moves only putting the September S&P 500 future back up to key 1,350-55 resistance. That is of course very important, because the extension of the deadline for Spanish fiscal reform is a bit of a longer-term move. And while it seems constructive, the markets are ultimately looking for more immediate and extensive European action on other critical items.

Those include a more realistic assessment and address of the full extent of Spanish bank recapitalization. There is also the issue of a pan-European banking regulator that now stretched out into not just late this year or early next, but the second half of 2013. It seems the Europeans just haven’t learned the lesson of the importance of timely action as well as any steps being seen as effective in the first place.

There are also the technical trend considerations in the other key asset class…

 

…like the fact that the September Bund future has only dipped back to retest its old 143.7o UP Acceleration and held. That might be quite a bullish factor for the primary government bonds. Also note that the euro is not getting any joy from the most recent Euro-zone move.

And there is always the question we have posed on many previous occasions of whether the crisis mitigation amounts to anything that will restore global confidence and growth? The latest economic figures and the US Small Business Optimism Survey did not do much to encourage constructive inferences. And the global aspect of that is also explored through the TrendView Market Alert link back to yesterday’s TrendView Brief Update exploration of the negative shift in July OECD Composite Leading Indicators from the previous month’s indications.

We hope you enjoy the read in spite of being the bearers of bad tidings, and as always…

Thanks for your interest.

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