{"id":1802,"date":"2011-11-07T01:03:47","date_gmt":"2011-11-07T06:03:47","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=1802"},"modified":"2011-11-07T01:03:47","modified_gmt":"2011-11-07T06:03:47","slug":"europe-stumbles-onwards","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/07\/europe-stumbles-onwards\/","title":{"rendered":"Europe stumbles onwards"},"content":{"rendered":"<p>Markets have been fed a steady diet of press releases out of Europe for the past few weeks but very little substance. This is a dangerous strategy as hopes are raised and reaction to any form of disappointment will be strong. No matter how it is dressed up, we are likely to witness a substantial default of Southern European borrowers, requiring recapitalization of French and Northern European banks. With public debt close to danger levels in many of these countries, there are no ready funds available for a bailout. Quantitative easing by the ECB has been touted as a possible solution, but aversion to this is so strong &#8212; particularly in Germany &#8212; that it would be political suicide for Angela Merkel to support this. So Europe stumbles onwards, searching for a disguised form of QE solution that is palatable to German voters.<\/p>\n<p>Germany&#8217;s DAX is testing support at 5600. Breach would test 5000, while respect would signal a primary advance to 7200*. 13-week Twiggs Money Flow is relatively weak and reversal below zero would warn of renewed selling pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-11-05-dax.png?w=525&#038;ssl=1\" alt=\"DAX Index\" \/><\/p>\n<p style=\"text-align:right;\"><span style=\"color:#999999;\">* Target calculation: 6400 + ( 6400 &#8211; 5600 ) = 7200 OR 5700 + ( 5700 &#8211; 5000 ) = 6400<\/span><\/p>\n<p>France&#8217;s CAC-40 index is testing medium-term support at 3000. Failure would test 2700, while respect (signaled by breakout above 3350) would signal a further advance. 13-week Twiggs Money Flow remains weak and reversal below zero would also warn of renewed selling pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-11-05-cac.png?w=525&#038;ssl=1\" alt=\"CAC-40 Index\" \/><\/p>\n<p style=\"text-align:right;\"><span style=\"color:#999999;\">* Target calculation: 2700 &#8211; ( 3300 &#8211; 2700 ) = 2100<\/span><\/p>\n<p>Italy&#8217;s FTSE MIB index is similarly testing support at 15000. Again, 13-week Twiggs Money Flow is weak and reversal below zero would warn of renewed selling pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-11-05-mib.png?w=525&#038;ssl=1\" alt=\"FTSE Italian MIB Index\" \/><\/p>\n<p style=\"text-align:right;\"><span style=\"color:#999999;\">* Target calculation: 13 &#8211; ( 17 &#8211; 13 ) = 9<\/span><\/p>\n<p>The FTSE 100 index is testing support at 5350. Failure would test primary support at 4800, while respect (signaled by breakout above 5700) would confirm a primary advance to 6100*. Rising 13-week Twiggs Money Flow favors an advance.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-11-05-ftse.png?w=525&#038;ssl=1\" alt=\"FTSE 100 Index\" \/><\/p>\n<p style=\"text-align:right;\"><span style=\"color:#999999;\">* Target calculation: 5400 + ( 5400 \u2013 4800 ) = 6000<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Markets have been fed a steady diet of press releases out of Europe for the past few weeks but very little substance. This is a dangerous strategy as hopes are raised and reaction to any form of disappointment will be strong. No matter how it is dressed up, we are likely to witness a substantial &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/07\/europe-stumbles-onwards\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Europe stumbles onwards&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57,33],"tags":[381,547,949,962,1295,1483,1484,2808,2831,3330,3511],"class_list":["post-1802","post","type-post","status-publish","format-standard","hentry","category-stock-markets","category-uk-europe-countries-regions","tag-banks","tag-cac-40-index","tag-dax-index","tag-debt-crisis","tag-euro-zone","tag-ftse-100-index","tag-ftse-mib-index","tag-public-debt","tag-quantitative-easing","tag-target","tag-twiggs-money-flow"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Europe stumbles onwards - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe stumbles onwards - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Markets have been fed a steady diet of press releases out of Europe for the past few weeks but very little substance. 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The Eurosystem as well\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2305,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/23\/germanys-economic-and-political-generals-are-fighting-the-wrong-war-on-line-opinion-24112011\/","url_meta":{"origin":1802,"position":2},"title":"Germany&#8217;s economic and political generals are fighting the wrong war &#8211; Saul Eslake","author":"ColinTwiggs","date":"November 23, 2011","format":false,"excerpt":"The role which the European Central Bank needs to be allowed to play in resolving the European sovereign debt crisis needn't amount to sustained financing of government deficits. It is perhaps better conceived of as being akin to central bank intervention in the currency markets.When, in moments of one-sided speculation,\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1204,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/07\/mervyn-king-on-global-currency-imbalances-and-quantitative-easing\/","url_meta":{"origin":1802,"position":3},"title":"Mervyn King on global currency imbalances and quantitative easing","author":"ColinTwiggs","date":"October 7, 2011","format":false,"excerpt":"SkyNews interview with BOE governor Mervyn King: Mervyn King on global currency imbalances and quantitative easing. Compare his view on QE to the German view as voiced in Der Spiegel.","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/9-BR6KQtxZ8\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1905,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/15\/economonitor-economonitor-the-triumph-of-austerity-and-its-consequences\/","url_meta":{"origin":1802,"position":4},"title":"EconoMonitor : EconoMonitor \u00bb The Triumph of Austerity (and its Consequences)","author":"ColinTwiggs","date":"November 15, 2011","format":false,"excerpt":"FT reports: The president of Germany\u2019s powerful Bundesbank has firmly rebuffed international demands for decisive intervention in the bond markets by the European Central Bank to combat the eurozone debt crisis, warning that such steps would add to instability by violating European law. Bundesbank president Jens Weidmann told the Financial\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7942,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/06\/25\/sp500-holds-strong-while-canada-and-europe-weaken\/","url_meta":{"origin":1802,"position":5},"title":"S&#038;P500 holds strong while Canada and Europe weaken","author":"ColinTwiggs","date":"June 25, 2013","format":false,"excerpt":"10-Year Treasury yields broke resistance at 2.50% as bond-holders offload their positions. Expect weak retracement to test the new support level at 2.00%, but recovery above 2.50% is likely and would signal a long-term advance to test resistance at 4.00%. Breakout above 4.00% would end the 31-year secular bear-trend. Rising\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=1802"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1802\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=1802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=1802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=1802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}