bad week for global markets show that across the board reductions in all indexes. Sales have been triggered by fears of a slowdown the world economy, the Chinese economy in particolarmodo, was released this week superindex China +0.3% against 1.2% the previous month.
From a technical standpoint the U.S. markets have violated the minimum in June, confirming the formation of a bearish trend. This consideration calls for a more conservative interpretation and more opportunistic in dealing with the markets in the coming months. The resumption of a positive trend is however not entirely be discarded, but the market will confirm in the next few months, with the recovery and preservation of media violated.
From a macroeconomic perspective on the lists have weighed on the data U.S. job market released before the start of trading Friday, while the unemployment rate in June has dropped to 9.5% from 9.7% the previous month, the loss of jobs in non-agricultural sectors, amounting to 125,000 units, was superior to the consensus that was set at 100,000. A disappointing data were then also on orders to industry, industry decreased by 1, 4% in May against expectations for a smaller drop, or 0.6%. The economic slowdown was confirmed Thursday by requests for unemployment benefits revised upward to 472,000 units (estimated at 452,000). Also below the expectations were too; the ISM manufacturing index, which fell in June to 56.2 points, and that on the sales of houses with current contracts that in May showed a fall of 30%, well above forecasts of analysts who had expected a smaller decrease of 12.5% . Only spending on development has surprised positively, however, marking a decline of 0.2% in May (-0.8% expectations). They have done better data on the creation of jobs in the private sector in the month of June saw 13,000 compared with 60,000 expected, but does include the Chicago PMI index drops which, although it declined to 59.1 points from 59.7 in May, stood above the consensus, set at 59 points. Finally beginning to be reported last week U.S. consumer confidence collapses, the surprise index has fallen 52.9 points in June from 62.7 the previous month (estimated 62.8 points).
S & P 500 has in fact violated the minimum reached in May and June, critical threshold to prevent the change of the general trend. Even moving averages reveal weakness, reversing their direction to the upside.
Nasdaq Composite Index: The index is still high compared to industrial stocks, although the relative strength is decreasing slightly in recent weeks. Dow Jones Industrial
: trend of long endangered by the failure of the media area in 9900-10000. Now the levels of support are at 9400/9500, then area 8700.
As for the European market;
For European markets weighs the news that Moody's might downgrade the debt rating of Spain's two "notch" in the light of the weak growth prospects of the country.
Dax: the index has a better technical situation with other European indices, although the trend is losing strength.
Regarding the Mib FTSE, the index maintains the chronic weakness in relative terms compared to European shareholding. The index is already making record maximum descescenti. Advance
week in defensive sectors, while the gold loses position strengthens the Bund.
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