Is the subprime crisis reaching an end ? If this is the case, the DJ Eurostoxx index might find enough energy to break its short term resistance and confirm the currently built figure of a reversed head and shoulders. The right shoulder is not yet finished and it is often risky to play a figure before its confirmation. But...

Will the US subprime crisis create a systemic collapse of the world markets and so doing, a krach ? For once, it is the French market which gave the first signs of worries with the 1st French bank, BNP Paribas, closing three funds related to Collaterized Debt Obligations (CDOs) because of a lack of liquidity allowing to value the funds correctly. The FED and the ECB are injecting massive liquidities in the bank system but technically, the harm is already done...