1. Amazing like a Swiss watch we made a short term bottom around TG and had the expected volatile bounce today due for the exact trigon between Venus and Jupiter. This effect will vanish quickly and around tomorrow markets will rather start dropping again.
The expected great Black Friday sales will not carry through the season as towards Xmas we rather get a very ugly pattern which is actually depressive in nature. Unfortunately this will not be a nice holiday season at all.
Usually we could have seen a strong attempt for window dressing as most Investment-banks used to have year-end quarter in November but MS and GS have changed to calender year-end which will be crucial.
Around 1200 SPX the current run should fade out with another 4-5 % short covering rallies.
Here another pathetic approach by Merkozy to stem a crisis which has rather not the option to be healed by another round of lies and deception. THe Euro was based on this concepts right from the beginning as all the regulations were never uphold and the entry was done by most countries with phony stats.
BERLIN/BRUSSELS – Germany and France stepped up a drive for intrusive powers to reject national budgets in the euro zone that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain.