Too many rumors this morning – now its trailing back lower – the technical picture pretty ugly:
Note long-term broken early April – followed now by test of sideways to lower channel a break would be bad for risk. The price of the high EURO and the lack of global growth seems the be hitting where it should: Europe’s biggest export economy, so in short this is like Gold a move towards reality and as I like to say: Reality is a place the market fear more than anything, but which Main Street is hungering for – Keep very close eye on the 7550 level on close tonight.
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