Tuesday, February 12, 2013
Morning Market Analysis: Europe Correcting.
Spain and Italy (top two charts) have already moved through the 61.8% Fib level and are working down to the 50%. The French market (second from the bottom) is already at the top Fib fan and the German market (bottom) still has to make contact with a Fib level.
So far, this has been an orderly correction. However, it's difficult to see the US market continuing higher at the same rate with European markets moving lower.
Posted by Hale Stewart at 2/12/2013 06:00:00 AM