European charts fading

thetrader's picture




Quick chart update below. We clearly see how several European indices all show the same pattern. The Bernanke rally has faded, and we marked a short term top. What is interesting, is the fact that we never even tried pushing the previous highs. This is the same psychology when we topped out over the previous tops. Did Bernanke fool the last momos covering their shorts, and more new “smart” longs entered the fake move?

One thing is sure, Spain’s Ibex is trading very badly, and we strongly believe Spain will become the next major point of focus. For some more on Spain, click here

Charts below.



Stoxx 50

OMX (good risk measure)

And the ever falling Spanish Ibex market. Breaking new lows...

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Wed, 03/28/2012 - 17:55 | 2298794 disabledvet
disabledvet's picture

Mañana, mañana.

Wed, 03/28/2012 - 17:39 | 2298727 Bartanist
Bartanist's picture

There are no bulls. There is only Zuul!

Wed, 03/28/2012 - 17:52 | 2298786 Zero Govt
Zero Govt's picture

"Zuul" or HFT computers hypothacating 1 Dollar 45 Cents three million times a day?

Wed, 03/28/2012 - 17:25 | 2298672 SAT 800
SAT 800's picture

Shit, it looks like the parties over. I guess I better dump my BAC bought at $5.76/share and two to one margin.

Wed, 03/28/2012 - 16:49 | 2298561 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

the market will go down only when Ben permits it> It will go up otherwise, because ben permits it> It is a tragi-farce but a reality> When all this crashes, democracy will be an historical concept. All wealth will be in the hands of .01%. Mankind fundamentally works best to a feudal type system. Democracy was an interesting communism.

Wed, 03/28/2012 - 15:39 | 2298289 DavidC
DavidC's picture

Meanwhile in the US the markets hit new post 2008 highs in the last couple of days (albeit they might just be starting to turn today).

Oh, and Apple hit $620 - exponential since the beginning of the year, look out below!


Wed, 03/28/2012 - 13:20 | 2297775 pashley1411
pashley1411's picture

Bernanke's next trick is to put the world's economy into a time machine and propel it into the future past the end of his term in office.  

Wed, 03/28/2012 - 13:19 | 2297763 pashley1411
pashley1411's picture

Whowouldathought that the last sane local on the planet is a bunker with built-in thermal sauna outside of Reykjavik.

Wed, 03/28/2012 - 13:10 | 2297748 NEOSERF
NEOSERF's picture

Bulls can start sweating OR...they can ramp up talk of LTROs and QEs and STDs....anything to keep this farce moving...

Wed, 03/28/2012 - 13:06 | 2297732 ebworthen
ebworthen's picture

Dive! Dive! Dive!

Wed, 03/28/2012 - 12:49 | 2297670 BudFox2012
BudFox2012's picture

Its all the green shoots weighing down the markets...

Wed, 03/28/2012 - 12:43 | 2297653 Randall Cabot
Randall Cabot's picture

I'm sure Bernanke the Magnificent has another rabbit to pull out of his hat to counter the dismal NFP number next week but I sure don't know what it is.

Wed, 03/28/2012 - 12:47 | 2297664 HD
HD's picture

For the first time in three years I really think he may be stuck. The Fed has painted itself into the corner...

Wed, 03/28/2012 - 12:56 | 2297692 BudFox2012
BudFox2012's picture

In a sane world, it appears as though he may be cornered.  However, we no longer live in a sane world.  You're forgetting the fundamental lesson since 2008 - Never, EVER, underestimate TPTB's (incuding the Fed) ability to kick the can down the road.

Wed, 03/28/2012 - 13:06 | 2297729 Kayman
Kayman's picture

Never, EVER say Never, Ever.

Wed, 03/28/2012 - 13:26 | 2297789 CIABS
CIABS's picture

Don't forget the marginal nominal new high of 2007, and don't forget the 1970s.  Another marginal nominal new high and another 2007-2009-style collapse shouldn't surprise anyone.

Wed, 03/28/2012 - 13:43 | 2297851 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

The boy who cried wolf. "Ohhh, it is all clear...." for the nth time. It is black hole time! Bitchez!!!

Wed, 03/28/2012 - 12:42 | 2297646 HD
HD's picture

Bulls will ride this "rally" all the way to the slaughterhouse door. Then they will all try to get out at once.

Wed, 03/28/2012 - 11:36 | 2297430 WALLST8MY8BALL
WALLST8MY8BALL's picture

My Balls are already sweating! Oh you said Bulls, sorry!

Wed, 03/28/2012 - 14:32 | 2298027 clones2
clones2's picture

Will be very easy to find the next BULL markets in FAZ,TAZ, and the VIX. hahahahaha

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