Tuesday’s session started quite neutral. Although session started with 40 pts bearish gap, but it could be negated. Gains on Chinese stocks are positive for bulls but on the other side EURUSD strengthening and weak situation over the ocean gave power to bears. German job data was really well with unemployment worse than forecasts. On the other side Eurozone CPI failed, it is still negative. Reaction for data was small because investors were looking at cheap oil and US indices futures.
Moods could be better only thank to good situation on Wall Street. That didn’t happened, decreases in the US were huge: S&P500 -1,87%, NASDAQ -2,24%. All most important European indices decreased: English FTSE100 -2,28%, French CAC40 -2,47%, German DAX -1,81%. 28 out of 30 DAX companies lost some value, the most: ThyssenKrupp -6,02%, Infineon -5,75%, K+S -5,30%, Commerzbank -4,65%.
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Consolidation pointed yesterday was broke above and we can see reversal H&S pattern with broken neck line. Range of decreases is 9,250 pts. I will also remember that there is a probability of decreases to 8,400 pts area.