MSFT - A breakdown with a gap down...

Yday close will be the key (31.94). I defend a test to the 200 days e.m.a. (now at 28.28)



EUROSTOXX50 - Bulls have (lots of) work to do...

European big-caps

Europe has clearly doubted, at least until now, from the US moves (or should I say, from FED´s power?). In 2000 and 2007 tops, european big-caps were also a good warn of what to expect...
One could argue that S&P500 is the leader and the others markets will manage to follow.
I think under 2500 this is pure hope...

On a daily basis, the breakdown is already happening. Take a good look to the bearish divergence during LTRO joke...



S&P500 - Update 04/Apr/2012

Daily chart is bearish under 1407 (1401 ES_F) but watch out for short term support...

Where are the bears?

Everyone is sure of the upside potential of the S&P500. Price is giving them a strong support...

Sentiment is evident, as bulls are clearly the majority here.

I will watch carefully 1407 (1401 ES_F) as the key level for the next few hours. Keep in mind another round of bearish divergences on the daily chart.

I am waiting to (again) short this market. Going against the tide? Yup, but definitely against the crowd!...