No change in UPTREND ..YET.but some warning signs?

DAX

#New all time high !
BUT ..

FTSE seems to be lagging or is it LEADING??  could be froming a bull falg..but surprising with DAX at ATH it hasn't accelerated UP..as yet...

INSIDER selling seems to be picking up over last few weeks..sells about 2 to 3 times more than buys
Data from here  http://j3sg.com/

Gap up open today..maybe  some PANIC buying finally coming in ? Sign of retail feeling left out?

Charts

DAX

FTSE

Bull flag or topping? Weekly chart may give some clues?

FTSE WEEKLY

Not much clue here still looks like 2 possibles bull flag or double top.. a decisive break above would mor elikely mean NEW ATH as well..

How about monthly?

 FTSE MONTHLY

Monthly LOOKS like a top and possibly important one forming, HOWEVER a MONTHLY chart is LONG term.. best to keep it in back of mind...
RSI starting to show some neg divergence..
Previous tops took over 8 months to form..whipsaw and false breaks up and down.

DAX MONTHLY

Thrown in for good measure..
Broken out..
accelerating up..
Only caution is RSI starting to enter overbought, but would suggest at moment no change in trend.

Can't see the wood for the trees!

Imagine looking at an oil painting from a distance of a couple of inches? You would not see much of the whole picture, a few splodges of paint.

Sometime charts can be like that especially if one is looking at them day in day out.  So at times it is best to STAND back so one can see the whole picture. That is look at the LONGER time frames, like the Monthly and Weekly charts.  Then it may become clearer what that picture is telling one!

Monthly Charts below
Pretty self explanatory

AUDUSD

CABLE

EURUSD

FTSE

DAX

DJIA

Correcto !

Well my gut feel as posted here was correct (so far)..

I LIKE BEAR moves..

They are normally quicker than BULL market moves..
Volatility tends to pick up so there  more intra-day opportunities

Just got to remember don't get married to the bear position YET..
Probably a good 10 % minimum correction and then it will be right to don the BULL outfit again!

FTSE close to break out ...again

FTSE 1 HOUR CHART


The hourly chart shows the uptrend perfectly.


Prices are "banging" on the resistance at 5920..

A clean break through here should accelerate the up move, possibly beginning the end of the move..

Looking for a relatively quick move to 6100, to take profits and possibly go SHORT

As always there is at LEAST 1 different scenario...
A break below the BLUE uptrend line..probably means a deeper correction sooner rather than later..

Equity markets in need of a rest?

Looking at the daily charts of many indices it looks like they need a pause at least before moving higher..

here's the DAX DAILY

Reasons for a correction

1.RSI in overbought levels

2. Maybe some late longs ie weak longs in near the highs

BUT the trend is UP, so unless very nimble best to wait for correction to get long again.

also looking at the WEEKLY chart

Can see that not overbought, and looking at past moves up they can get quite long in the tooth before a significant correction occurs.

NFP out in US tomorrow so could be some volatility ahead and after the numbers.

Stay nimble and look to buy pullbacks

Quiet Xmas markets

With Xmas only 4 days away things are quiet but mildly bullish...

here's a 4 hr chart of the DOW with a bullish inverse head and shoulder Neckline at 12230.. and if we bust through that and a possible retest, target could be +1000 points higher...

Maybe not before Xmas but could be for Q1 2012

DAX and FTSE have also broken out of recent down trend which could have been FALLING WEDGES..

Still the same picture...

Have a look at DOW chart..still the same picture. Some newsletters I read are slowly turning bullish - SHORT term only....but the picture seems to say we are just consolidating the recent sharp down move. Support at 8000 in DOW...is everybody bottom picking there? If so a move below that level decisively will put the targets mentioned in previous post in sight!

PPT? are they holding back the tide? Will the dam finally burst? Will the US carmakers get a bail out? If so - WHAT FOR? As with AIG, some banks, and in general badly run companies, they should be allowed to FAIL - free market forces. They are dinosaurs, make way for the small mammals !!

I am still waiting for the final capitulation....maybe it will be after one more rally to top of trend channel (see graph)...only a clear break above 9800 on good volume will change the picture medium term... let's get it over with SOONER rather than later!!