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Decent gap down in Italy and Spain, most likely traders
are looking for the weaker euroland countries.Never give up, never surrender.
I expect a retest of lows hit overnight, so added shorts back that I took off at those lows.
The Plunge Protection Team will have their work cut out today. Just need a rumour that Bank x is on the hook for a tonne of Greek paper and job done re lows. :p
Back in the day we could have had a decent drop and drop but
we have central banks with infinite electronic money.Euroland found support, US to do the same, time wise ?
One day at a time, we think about tuesday only after monday.
Never give up, never surrender.
Puerto Rico in a mess too…. :p
some Italian bank shares were closed this morning too….not sure if they ended up opening? Indicated at -10% -8%. They must be concerned about them to close them. Contagion#
I had limited trading time today but made a small profit,
all long trades, flat now.Unless there is something ugly, the algo’s, having done
the bulls today, will look to do the bears today, imho.Never give up, never surrender.
A litmus test to how bad things are:-
Normal market reaction would be to find support and
then trend towards half the opening gap down.That is what the Ftse did, fwiw.
Never give up, never surrender.
Where next ?
If the US rallies into the close then that maybe a short entry
but it would only interest me if that was a strong rally.Absent that I stay out and see how euroland opens tuesday.
Never give up, never surrender.
US rth late weakness has taken Ftse ooh to 6566 which
is well below 6620 close. One for the gamblers but
no overnight trades for me.Never give up, never surrender.
Always have a plan for the unexpected.
What if the EU sweet talks the Greek people into voting for the bailout.
Never give up, never surrender.
ASX 200 @ Mon 29 June 15
Today’s breach of the June 10th low confirms the larger pullback underway.
The count shown on the DAILY chart projects an eventual bottom for this move 500 points below today’s close – around 4920 (green horizontal).
Alternatives are possible, but at this stage less likely.
Confirmation of the larger count – an enduring top at 5996 on March 3rd – remains a breach of the 5122 wave-4 low (magenta horizontal).
Cheers WND
For the Ftse and other euroland markets, maybe a low
in the full moon window(centred 2nd July) then rally
into new moon window(centred 16th July) then down in
line with WND’s ‘potential ASX tops in for now’.Never give up, never surrender.
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