Monday, May 7, 2012

7 May 2012

 Decline slowed in the medium term today.  This could be a positive development, but it is still May.
Decline also slowed in the short term today.  Same as above.  Its above previous low and could rally upwards.

Another point for the bulls is the gaps from last week, but as I said, it is still May, and Europe's problems seem to have just gotten worse considering the elections.

A rally up with a failure to confirm each prior peak will be extremely bearish.  I don't like that we haven't seen panic selling.

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