Ecantoni
Short

Italian mkt showing a scary analogy...and a gloomy forecast

FX:ITA40   FTSE MIB index of Italian listed shares
318 0 1
The analogy follows the 11/2010 - 8/2011 movement. From a technical standpoint both MACD and RSI are tracking quite nicely the fractal , enough to consider:
1-potential weakness into the coming week
2-a final rally at the end of January
3-lower lows till May
Potential catalysts:
- turmoil post-tapering in US equity mkts showing worrisome analogies
- local political impasse
- worsening macro deflationary scenario
-worsened credit rating
-"Grexit" as similarly to what happened in Venezuela the year before of its default in 1998, Greece has just posted
a primary budget surplus in Q4 2013
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