Global Pivots

Global Pivots getting touched:

Western Markets:

- DAX at 5520 is less than 200 points away from pivot (5316) set on 11/03/2009

- Dow at 9985 is less than 400 points away from pivot (9599) set on 11/03/2009

- DJ Stoxx 50 at 2693 is less than 10 points away from pivot (2680) set on 11/03/2009 (Began buying with limit orders at 2685) !!!

Asia Markets:

- MSCI Taiwan touched Pivot 259.30 set on 11/03/2009 – Began buying with limit orders at 260 – Long

-  SPI 200 Futures touched  4446 set on 11/03/2009 – Began buying again with limit orders of 4450

Brazil / Mexico / Canada

- Canada touched Pivot and points to a rebound.

- Brazil and Mexico . Most bearish on these two markets. So far away from Pivot of 11/03/2009. Keep Selling. They might drop by big double digits today.

Should all markets break past  pivots of 11/03/2009 then this is a correction that might turn into a panic.  I have placed tight stops to get me out. But probability of a rebound at these pivot levels is high. Willing to bet a little on them.

By Andrew Shawn – Recursive Investments in Global Financial Markets