Monday 9 November 2009

Correction higher close to completion

BOTTOM LINE: The expected correction higher is in its final stages. Risk and related assets should turn lower today/tomorrow.

Below is a daily chart of the German DAX. The expected correction materialised, and is very likely close to completion. I now expect weakness that should at least test the Friday 30 October low. It is also highly likely that that low will be breached and we head much lower.

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