Sunday Post 5/6/12



We don’t know yet if Europe will be in complete meltdown mode tomorrow or not. As you know by now, Sarkozy was defeated, as Greece and France voted in the Socialist Party. In cased you missed it, the market was hoping for an opposite outcome. As a result the Euro is trading down about 1/2% , but I guess it could be worse.

I would prefer to publish a video tomorrow evening and perhaps alert you guys to a few things during trading tomorrow, as opposed to going over everything that we already know. In case you missed it, this was a post that I put out Saturday morning that basically tells you where we are. This was before the outcome in Europe, so I would expect a tough open in the morning.

I would not have put any new ideas out tonight anyway, as I want to see the market’s reaction to Europe in the morning.

Friday was a tough sell off and I think it was a combination of the bad jobs report AND anxiety over Europe this weekend. The fact that we now know where Europe stands could bring some clarity even though the news was not what was desired by the markets.

Europe will now need a howitzer to get its act together and I am sure there will be talk of a possible imminent ECB rate cut. We’ll see. The best thing to do now is wait and watch, and not catch falling knives.


Previous Post
Back To the Trendlines For Me
Next Post
Back To the Trendlines…Update

Recent Articles