Berlusconi Vs Borsa Italiana

The Italian stock market measured through iShares MSCI Italy Index Fund (EWI)  has been building a base for the last 2 years. As shown below EWI formed  a complex H&S bottom with a neckline at 14.63. With the pattern getting ready to breakout, Berlusconi could have not chosen a worse time to jinx the market, warn of pulling his party’s ministers last week and actually delivering on his warning this week.

Keep EWI on the watch list as its too early now to call the shots but a close below 11.54 negates the pattern and announces Berlusconi as the Winner !

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EWI Weekly

EWI Weekly

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2 Comments on “Berlusconi Vs Borsa Italiana”

  1. mcmasoniam says:

    Art, love your posts/info! Please keep posting, or send email to mtsprintgirl@hotmail.com

  2. mcmasoniam says:

    Hi Art! from the brief clip I heard on news this morning, sounds like Berlusconi says he will not interfere w/election results. This would be a welcome change, esp. if he actually keeps his word! Ciao!


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