www.TheSeaNation.gr

Weekly closing 2330. Presume this Xmas time would be the best one for shipping people since 2007. Momentum so far is very strong all around for all kind of vessels' size and types with Pioneers the Capesizes as usually.

Especially for USG/USEC loading area, have noticed a number of amazing fixtures with unbelieavable figures, most of them of course on P+C terms. Technically, and as far as Elliot Wave Analysis concerned, Index is making 5 legs up and same looks quite promising. So what next?

Strong resistance around 2200 crashed this week as expected, (there is a slight chance to be a false ''break-out'' but same remains to be seen in the next couple of weeks). Next region of resistance is around 2700/3000, and yu may consider same ''as extremely strong resistance''. First strong support around 1480 is far away for time being. Seasonal factors for nov/dec definitely changed to the opposite, ie in a bullish market going strongly up, while in a bearish one quite the opposite. Expect a consolidation from now on untill the beg of New Year. Is there anything to change the current situation?

Yes, only such kind of crisis facts as happened during 2008. Wwide economic factors are still too fragile and ''wait and see attitude'' would be most recommendable as far as shipping investments are concerned. Additional caution required, as Global stock exchanges hv already given a technical signal of large downward correction during 2014.

Stelios Lazaris, md Maritime Investments A.G. Zurich