Market is overpricing risk (update 2) - sucker rally

Mostly long positions especially on the EUR and Dow and S&P 500. Strange because what came out of the the EU and US (overnight trading 15 June 2010) was not happy rally news. Still longs get cut hard on a downtrend so we have a overpriced market risk

refer (as at 16th Jun 2010)

Germany ZEW indicator for economic sentiment drops 17.1%

US consumer confidence (ABC) falls

US builder confidence drops

UK consumer confidence falls

The rallies, using the EUR and Dow has examples, may be from a technical rally supporting short covering and buying longs. Probably fatal in someways.

An analysis of both indexes (EUR and Dow) posted soon.