Question asked, question answered

15 Jan 12, 18:09

Question CBK: ZL>> European Debt Downgraded will have big impact on Monday's market? any plan on monday? buy on dip? TQ

Answer ZL : Investors next week will digest Friday’s announcement by Standard and Poor’s that the ratings firm downgraded several of Europe’s largest economies, including France and Italy. Financial markets are unlikely to be derailed by mass euro zone downgrades but with Greek debt talks at an impasse, pressure has been loaded on the bloc to shore up its defenses and glimmers of optimism from last week have been firmly doused.

With the United States and Japan already downgraded from "AAA" the likes of France and Austria are in good company and Standard & Poor's ratings cuts had been flagged in December. Although nobody is excited about the S&P decision, the step may actually help to get a quick agreement on the fiscal compact.

From a 15 mins DJIA Chart view

Nothing more than a minor dent at the fender. Not enough to put the vehicle off alignment

From a weekly DJIA Chart view

Bullish Wave 5 of the Dow Weekly is very much on track. Should prevail when corporate earning reports shift gears.

 BSKL will rise & fall in tandem with DJIA >>>> as per norm.

HAPPY TRADING