We have been watching for clues about the next major market moves, as usual. There have been some positive developments in stocks as reported in the last few editions – bottom extensions in a couple of European national indices and a couple of US sector indices but the main US indices have had trouble moving away from the congestion zone of current prices. Now we have seen a few more weekly-scale compressions, not only in an important Real Estate ETF but in two energy contracts too. All are currently breaking higher, meaning that a new upmove of some few months duration may be starting here. We say may be, as these are weekly signals and any move should start with a closing break at week’s end – two days from now. Watch carefully in the next 48 hours as markets may be sliding off this knife-edge in the direction of higher prices:
