After the rally on the markets following attempts to “rescue” the eurozone, my message is let’s not get too carried away. One thing the technical charts are telling us is that we have yet to plough through some key resistance areas before we can call this a win for the bulls.
I still remain pretty much bearish on the stock markets for the month ahead. So far both the Dow and S&P emini-futures have failed to close above their respective 21 moving averages. However, if they do show any signs of follow-through and make some gains, we need to keep an eye on how the stock market indices are going to act near upcoming hurdles.
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