Hard to tell whether it's the sudden departure of a key executive from SAP, or the Ukraine situation, but Germany's DAX is down hard today. However, unless it breaks below 9173.71 it could still be in a rising wedge pattern to new highs.
I feel badly that Vlad is running around Eastern Europe like a mad punk, but the world has had 15 years to get ready for it, and since nearly every G7 nation has stolen vast tracks of land via conquest, it's hard to do anything about it -- and Puty knows it.
Sometimes I think our agenda is to arm frenemies in order to someday go to war with them. It's great for GDP. It's also insane.
So is this: an activist hedge fund manager has just bought the most expensive home in America for $147 million. Two weeks ago, the record was $120 million in Greenwich, CT. Both are dwarfed by a recent $237 million sale in London.
As one might expect, the record-setting home in America was sold in the Hamptons (I hope by my ex-girlfriend). The socionomic irony is it was on Further Lane. Love it.
Even with all this real estate bullishness, futures are with the DAX today. Unless 1850.61 breaks, however, the S&P shares its rising wedge pattern. The far more important level is 1814.36 -- a break there and the fractal idea could come into play targeting 1760-1780.
The Ukraine situation reminds me of this tune:
Great tune, great band, but avoid fear at all costs.