The chart is at the edge between continuing the uptrend channel which started after the correction in late August - to a new all time high - or resuming to the big crash scenario which also started in August.2015.
The chart looks bearish to me, given for example that the MACD is rolling over to a bearish trend today. But until the market makes a real decision this week I sit on my hands. If ECB head Mario Draghi officially announces on Thursday more European-QE, we get a new rally. If he doesn't we get a new correction. That's my idea. Here is a NewYorkTimes article from today:
European Central Bank May Surprise With Size of New Stimulus (December 01, 2015)
www.nytimes.com/apon...-europe-economy.html
The chart looks bearish to me, given for example that the MACD is rolling over to a bearish trend today. But until the market makes a real decision this week I sit on my hands. If ECB head Mario Draghi officially announces on Thursday more European-QE, we get a new rally. If he doesn't we get a new correction. That's my idea. Here is a NewYorkTimes article from today:
European Central Bank May Surprise With Size of New Stimulus (December 01, 2015)
www.nytimes.com/apon...-europe-economy.html
