The Euro softened through Europe after the poor EZ GDP (-0.2 % qq v-0.2% exp) and Retail Sales (-0.5% mm v – 0.1% exp). The Dow has broken below its 6 month rising trend support but today’s looks well supported at 14865. Tomorrow could be a different matter if the unwinding of risk continues and below 14850 could see an acceleration towards 14600. On the topside 15000 and more likely 15100 will provide the resistance. Selling rallies looks to be the way to go.
Posted on: Thu, 06 Jun 2013 20:26:51 +0000
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