Below are 6-month Daily charts of the SPX, DAX, CAC, and PIIGS countries. You can see at a glance that the SPX has broken below near-term horizontal support of 1400, while its European counterparts are either trading at or close to (horizontal) support.
The first graph below shows that, by percentage, Greece has gained the most compared to these countries during the past six months. However, the next graph shows that Greece has lost the most (percentage-wise) during the past one-month period, while the last graph shows the accelerated comparative percentage loss in Greece during the past week.
No doubt, Greece's recent losses relate to the, as yet, unsettled Greek aid tranche. Further Troika delay in settling this latest round of Greek bailouts will likely negatively affect, not only the Greek Index, but also the others, to produce breaks below their near-term (horizontal) support levels. Once broken, any confidence that may have existed up to this point in these European markets, will be marred and that much more difficult to be regained.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) ECONOMIC EVENTS...
* Wed. Aug. 16 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. Sept. 1 @ 8:30 am ET ~ Employment Data
* Wed. Sept. 6 @ 2:00 pm ET ~ Beige Book Report
* Tues. Sept. 19 ~ 2-day FOMC Meeting Begins
* Wed. Sept. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Tues. Oct. 31 ~ 2-day FOMC Meeting Begins
* Wed. Nov. 1 @ 2:00 pm ET ~ FOMC Announcement
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference