trend change?
Indecision. On a weekly basis, the signal is GO SHORT! Target for the Stoxx 600 is 300 (-10%) for the Eurostoxx 50 3900 and 3810. But the pessismismo is to stars (as indicated by all indicators of sentiment), the oversold is remarkable. A 4-point bounce around in the near future there could also be.
The crucial point for me is this. When you switch from a sideways / upside to a bearish price, do not care dell'ipervenduto and pessimism. European banking index as happened during the summer, the fast descent continues until the first major target, and only later comes a quick rebound may also be consistent. Therefore I have two main scenarios:
1) bounce 4 / 5 points in a very short period and then down to the target described above;
2) running down to the target and then bounce that could bring indices also slightly above current levels within a month.
am inclined to the latter.
PS I apologize for updates ever more scarce, but I have less time to devote to the blog.
