SnP 500
SnP has broken a major support at 1040 and now technically is in a down trend, the break of 1040 represents not only a trigger of stop loss for bull but also an incentive for bears to sell more and view the market as a sell on rise.
The next target on SnP could be 1010-1000 which is a mild support area; the current downtrend will be in danger only if the index rises above 1075.
The general outlook about the whole financial markets has started to become gloomier day by day. If one observes the treasury bond index it has been on rise, the Japanese bond yields which have been in a range for 7 years have broken on the down side and the Swiss bond yields which have been in a range for 15-20 years have also broken on the downside which indicates that investors are seeking the safety of treasury bonds and other triple “A” bonds even if they get lower interest rates.
May be the whole bond market is sensing something big in the coming days , we as equity investors better watch out .
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