Watch Tomorrow Closely the Italian Stockmarket!

Source: MarketWatch.com

Italian banks were among biggest advancers, rebounding from sharp losses in Monday’s action. The country’s banking gauge, the FTSE Italia All-Share Banks Sector Index IT8300, +3.23% , slumped 3.9% to a three-month low on Monday, but rose 2.4% in Tuesday’s action. Italy’s FTSE MIB index I945, +1.40% rose 0.8% to 16,343.89 on Tuesday, following Monday’s 1.8% fall.

I am still neutral for Italy but i am watching closely any long entry if ever the pre announced Armageddon on monday will not occur.

Comment:

Watch tomorrow closely what happens in Italy

By monday there is a huge stock market crash widely expected but investors today start closing there short positions obviously.
If they do not come back tomorrow, friday or monday and sell the Italian Market again lower this stockmarket might show us probably a hugh short squeeze rally instead of this pre announced crash and expect the German DAX to follow at once.

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Comment:

After all what you know about Italy - do you expect a chart like this?

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Trade closed: target reached

Trade closed manually