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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 | Link to Comment disabledvet
disabledvet's picture

Mañana, mañana.

Wed, 03/28/2012 - 17:39 | Link to Comment Bartanist
Bartanist's picture

There are no bulls. There is only Zuul!

Wed, 03/28/2012 - 17:52 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment ebworthen
ebworthen's picture

Dive! Dive! Dive!

Wed, 03/28/2012 - 12:49 | Link to Comment BudFox2012
BudFox2012's picture

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

Wed, 03/28/2012 - 12:43 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Kayman
Kayman's picture

Never, EVER say Never, Ever.

Wed, 03/28/2012 - 13:26 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment WALLST8MY8BALL
WALLST8MY8BALL's picture

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

Wed, 03/28/2012 - 14:32 | Link to Comment 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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