TSE , DAX and S&P

Today the traded at or above the 12135 level consistently for the first time. This is the level that we mentioned, now more than a year ago, as a very good possibility for a retracement.  I myself did not have the patience to wait this long, expecting the whole thing to take about half as much time as it has, so it is not clearly something that one could have traded to the fullest, after all after 50% who really knows. Now that we are here probabilities are turning to the negative, which is not to say that the market cannot go (a lot?) higher, but that the likelihood of that happening is very low.

Further more its is interesting to note that not just the TSE but also the and the are, roughly speaking, at the very same spot right at this time. We are talking indexes, not individual stocks so some discretion is required but the conclusion should be to sell just about everything!

TSE April1 2010 DAX April1 2010

 S&P April1 2010

Remember, you can enlarge these charts by clicking on them and you can then put them side by side if you wish.