11/12: Europe continues to slide, another negative impulse on US markets

Europe:

The Sigma Whole Europe Index continues to slide. It is now testing a major support.

Looking at key European indexes, we can notice that most of them (except the DAX) are in danger.

The Sigma Trend Index declined again to '-14' but both the swing and the power level were neutral.

The ST model computed new stop levels for our short positions:

United States:

The Sigma Whole MArket Index had a very bad session with a bug black candle. This index is now right on a major suport, it is very important to keep this level.

The SP500 had a bad session and it is also on a major support.

The Sigma Trend Index collapsed to '-66'. This means the market is highly oversold on a short term basis. Both the Swing and the Power Level were at '1', telling us the decline was highly impulsive.

Short Term Trading Book:

- SPX: long at 1892.65 (stop @ 1972, 3pts below the ST model to take into account bid/ask spread)

- NDX: long at 3828.03(stop @ 4019, 5pts below the ST model to take into account bid/ask spread)

- CAC: short at 4380.87(stop @ 4435, 5pts above the ST model to take into account bid/ask spread)

- EuroStoxx50: short at 3230.03(stop @ 3289, 5pts above the ST model to take into account bid/ask spread)

- DAX:  short at 9924.15(stop @ 10177, 10pts above the ST model to take into account bid/ask spread)

- IBEX: short at 10663.8(stop @ 10845, 10pts above the ST model to take into account bid/ask spread)