{"id":4411,"date":"2012-05-22T00:24:54","date_gmt":"2012-05-22T04:24:54","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4411"},"modified":"2012-05-22T00:24:54","modified_gmt":"2012-05-22T04:24:54","slug":"uk-europe-closer-to-the-breach","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/22\/uk-europe-closer-to-the-breach\/","title":{"rendered":"UK &#038; Europe: Closer to the breach"},"content":{"rendered":"<p>Europe inches closer to the point when the artificial levee, built to protect European banks from market forces, is breached. Germany and France delay the inevitable while they attempt to restore bank balance sheets &#8212; by widening interest margins at the expense of depositors and transferring risky bonds to the European Central Bank . They do their utmost to avert a Greek default, because of contagion risk to the rest of the euro-zone, but their actions merely encourage more strident demands from Greece. If the levee breaks, damage will be that much greater because of the build-up of market forces behind the artificial barrier.<\/p>\n<p>Spain&#8217;s Madrid General Index broke support at the 2009 low of 700, signaling another primary decline with an immediate target of 600*. Reversal of 13-week Twiggs Money Flow below zero reinforces the signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-05-21-smsi.png?w=525&#038;ssl=1\" alt=\"Madrid General Index\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 750 &#8211; ( 900 &#8211; 750 ) = 600<\/span><\/p>\n<p>Italy&#8217;s MIB Index broke primary support at 13000, confirming the earlier signal from 63-day Twiggs Momentum and offering a long-term target of 10000*. Recovery above 13500 is unlikely but would warn of a bear trap.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-05-21-mib.png?w=525&#038;ssl=1\" alt=\"Italy MIB Index\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 13500 &#8211; ( 17000 &#8211; 13500 ) = 10000<\/span><\/p>\n<p>Germany&#8217;s DAX broke support at 6500 and is testing the rising trendline. Support remains strong, with 13-week Twiggs Money Flow holding above zero, but breach of the rising trendline and breach of short-term support at 6200 would indicate a test of primary support at 5400.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-05-21-dax.png?w=525&#038;ssl=1\" alt=\"Germany DAX Index\" \/><\/p>\n<p>France&#8217;s CAC-40 is also headed for a test of primary support at 2800. Reversal of 13-week Twiggs Money Flow below zero warns of selling pressure. Failure of primary support would offer a long-term target of 2000*.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-05-21-cac.png?w=525&#038;ssl=1\" alt=\"France CAC-40 Index\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 2800 &#8211; ( 3600 &#8211; 2800 ) = 2000<\/span><\/p>\n<p>The FTSE 100 found short-term support at 5300 but breach of the rising trendline and 63-Day Twiggs Momentum below zero warn of a primary down-trend. Failure of primary support at 5000\/5050 would offer a long-term target of 4000*.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-05-21-ftse.png?w=525&#038;ssl=1\" alt=\"FTSE 100 Index\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 5000 &#8211; ( 6000 &#8211; 5000 ) = 4000<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Europe inches closer to the point when the artificial levee, built to protect European banks from market forces, is breached. Germany and France delay the inevitable while they attempt to restore bank balance sheets &#8212; by widening interest margins at the expense of depositors and transferring risky bonds to the European Central Bank . They &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/22\/uk-europe-closer-to-the-breach\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;UK &#038; Europe: Closer to the breach&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"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":[547,949,962,1295,1483,1614,2193,2290],"class_list":["post-4411","post","type-post","status-publish","format-standard","hentry","category-stock-markets","category-uk-europe-countries-regions","tag-cac-40-index","tag-dax-index","tag-debt-crisis","tag-euro-zone","tag-ftse-100-index","tag-greece","tag-madrid-general-index","tag-mib-index"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UK &#038; Europe: Closer to the breach - 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=\"UK &#038; Europe: Closer to the breach - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Europe inches closer to the point when the artificial levee, built to protect European banks from market forces, is breached. Germany and France delay the inevitable while they attempt to restore bank balance sheets &#8212; by widening interest margins at the expense of depositors and transferring risky bonds to the European Central Bank . 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Breach of primary support at 210 would signal a decline to 160*, close to the 2009 low. Respect of support is less likely but would indicate a\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":977,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/26\/european-crisis-primer-where-things-stand-wsj\/","url_meta":{"origin":4411,"position":1},"title":"European Crisis Primer: Where Things Stand &#8211; WSJ","author":"ColinTwiggs","date":"September 26, 2011","format":false,"excerpt":"The crucial talks between the European Union-European Central Bank-International Monetary Fund \u201cTroika\u201d with the Greek government remain on hold as Greece pulls together another six billion euros in cuts and taxes to hit its promised 2011 target. At stake is the next eight-billion-euro bailout payment, without which Greece goes broke\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":1852,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/10\/watch-europes-bank-deposits-not-its-political-moves-james-wood\/","url_meta":{"origin":4411,"position":2},"title":"Watch Europe&#8217;s Bank Deposits, Not Its Political Moves &#8211; James Wood","author":"ColinTwiggs","date":"November 10, 2011","format":false,"excerpt":"People are now moving euro-denominated deposits out of Greece, Portugal and even Italy in protection against a possible exit of these countries from the European Monetary Union.......What is the effect of the movement of deposits? The banks losing their deposits will soon be facing a liquidity crisis. A publicly understood\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":1854,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/10\/new-greek-premier-steps-into-spotlight-bloomberg\/","url_meta":{"origin":4411,"position":3},"title":"New Greek Premier Steps Into Spotlight &#8211; Bloomberg","author":"ColinTwiggs","date":"November 10, 2011","format":false,"excerpt":"Lucas Papademos, named today to be interim prime minister of Greece, steered the country into the euro region as central bank governor more than a decade ago. Now the former European Central Bank vice president will have to secure the country\u2019s euro membership for a second time. Papademos, who has\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":1587,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/26\/euro-zone-talks-hit-roadblocks-wsj-com\/","url_meta":{"origin":4411,"position":4},"title":"Euro-Zone Talks Hit Roadblocks &#8211; WSJ.com","author":"ColinTwiggs","date":"October 26, 2011","format":false,"excerpt":"BRUSSELS\u2014Deep divisions between euro-zone governments and private banks over how much to cut Greece's private debts threatened to undermine efforts by European leaders to agree to a broad package at a Brussels summit Wednesday night aimed at stemming the Continent's intensifying debt crisis. ....Governments, led by Germany, have been seeking\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":1726,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/02\/world-leaders-rebuke-greece-on-vote-wsj-com\/","url_meta":{"origin":4411,"position":5},"title":"World Leaders Rebuke Greece on Vote &#8211; WSJ.com","author":"ColinTwiggs","date":"November 2, 2011","format":false,"excerpt":"\"Does Greece want to remain part of the euro zone or not,\" German Chancellor Angela Merkel said. \"That is the question the Greek people must now answer.\" .... if voters spurn the bailout deal, Greece could face national bankruptcy and exit from the euro, while leaving Europe confronting an almighty\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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4411","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4411"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4411\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}