Unfortunately, this negative behavior has caused a serious deterioration in technical termes. This could even bring theses indexes to challenge the level of support again in June. I refer to the minimun in June. In the following days we will see two forces in the market.
On the one hand, the quarterly results of companies. Furthermore, news about the deteriorating finances of the European countries. If we add to this weekly data from the labor market, the month of July may have a very level of volatility.
My main concern is this creates a breakout in the minimum support level in June. If that happens, we could face a severe correction.
Patience and good reflexes are the two important qualities for these times. Please click on the chart to enlarge.
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