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Three popular stock index’s in Europe are giving multi-year rising support a heck of a test of late! Each index may have created a rising wedge, which two-thirds of the time suggest lower prices are ahead.
Argentina and its potential default of debt seems to be in the news this morning. In my humble opinion what Europe does from here is VERY important!
IF….If Europe is reaching a “tipping point” this price action very well could ripple into the S&P 500. Europe did similar action in 2000 & 2007….stay tuned!!!