As you might know: Italiens PM Matteo Renzi is going to loose his own Referendum to change the Italien Parliament. Finally he said he will resign if he might not succed. If you follow the latest polls than this will happen on sunday Dezember 4th. Market Expectations: The widley expected result will be followed by immediately (!) Bank failure in Italy followed by bank failures all over Europe. Itally will leave the Euro and the European Union. The Stockmarkets all over ther world will "crash".
Europes Banking System isn´t that weak like it was before in 2008 and will surrender even 8 Italian Banks will close tommorow what will not happen by next monday. The fears are well overdone even investors need to expect that Italians PM Matteo Renzi is going to resign by next week.
The German DAX:
If you invert this Chart you would see a failed pull back to or over a major up trendline and a market wich was unable to brake through this line to enter the uptrend from bevor. If you invert this chart you might expect a serious downtrend in the following candle of the month of December 2016.
Comment
⋅
The "Italian Desease" is only an excuse for the German DAX.
Investors in Germany are really scared about what´s going on in Italy. In this chart you can see that Investors at least today do not buy anymore this story about a crash on monday. The are closing any shorts on Italian Stocks obviously.
Comment
⋅
Watch the France Stockmarket: The CAC40 is ready to cross the resistance at 4.906