by Pater Tenebrarum
Post ECB Euphoria – Another Trap?
The prospect of an easing of the euro area’s debt crisis following the ECB’s unwrapping of the OMT bazooka has caused considerable excitement in the stock market yesterday.
But is it really justified? We continue to believe that technical conditions are emitting warning signals. The main concern for bulls must be the still growing divergences. Below are a few charts illustrating the situation.