cycle by degrees update for monday 13th july, page-31

I see the US futures have crept up. By unleashing the awesome power of metastock I have concluded this is a red herring caused by Europe's relative flatness.

In regards to the march to June rally :

the XJO retraced and bounced off the 38.2% line a few days ago and today headed back down towards it...we should get there tomorrow.

the nikkei has been heading towards it's 38.2 today at a squillion miles an hour and should get there tomorrow...easily

the hangseng went screaming through its 23.6 today and would need another big down day tomorrow to achieve the 38.2

The SPX is 30 points above it's line. 1 really bad night tonight or 2 down nights

But here's the thing.....Europe has fallen ahead of the rest of the world....

The ftse has been sitting on it's 38.2 for 3 trading days. It broke below early tonight but has pulled back to find support above the line.

france is hopeless. they are well below their 38.2 and nearly got to the 50 before following the FTSE back up

the DAX is pretty much the same as the FTSE...

Soooo in view of the effect europe has on the US futures this time of night it's no wonder that the US looks not too bad. But Europe is only flat because they have already lost more ground than the rest of the world. I think when the US opens they could possibly be a tale of woe just like Asia was today.