AEX Short Term Update

As projected earlier, the AEX did indeed bounce of the upper Jupiter line (red) and is now on its way to the first support region, around 350-355. Fridays spike lower was on higher than average volume (yellow arrow) so this probably  means the decline is not complete. The next important date is June 21st, which is the summer solstice as well as a full moon.

The rate of next weeks decline will be an indication about the larger trend. A steep decline probably means that the larger uptrend is finished and that the high for the year is set. More about that when we get further in the next few days/weeks.

130531 AEX

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