EWI

Next week should be interesting.EWI needs to break above the declining tramlines and resistance from summer 2010 lows otherwise we could be looking at a very nasty sell-off.This is not a prediction just a possible roadmap if the market decides it does not like the EU "masterplan" unveiled last week.Either we have a triple bottom on the daily chart and can rally from here or some sort or 3rd wave starts soon .It seems to me that even if the plan works,which I doubt, it is still deflationary for the economies like Italy,Spain and Greece and therefore equity bearish. but we shall see