The MIB Index futures fell during the session on Monday, but found quite a bit of support at the 15,000 level. This level has been significant support, and because of this a break of the top of Monday’s hammer would be a buy signal for us. We think that this market should continue higher to the 16,000 level, and will more than likely find resistance there.
Simply put, Italy is one of the countries in Europe that is so sick right now. Until the European situation moves in one direction or the other, is to be very difficult to see this market pick up any steam.