Alex von Stachelkopf
The futures on US stock indices are trading in the green zone today even though Obama and Congressmen still cannot agree on the budget issue to avoid a “fiscal cliff”.
The current market situation looks as follows:
Dow Jones Industrial Average: + 8 points up to 12958.
Standard & Poor's 500: +0,4 points up to 1407,50.
Nasdaq 100: + 2,75 points up to 2672,75.
The chart below, courtesy of , reflects the current state of affairs in the market of Dow Jones. The index has probably finished forming wave 5 and is now retracing in the form of an irregular pattern. The price is expected to keep retracing in the short run. A break below 12760 will indicate a deeper bigger-scale retracement.
Alex von Stachelkopf
