The European Banks say NO DEAL.
Banks don't want to take a 50% haircut on Greece Debt.
THIS HALTS THE WHOLE PROCESS.
read it for yourself:
DOW opens down 200 pts on Thursday.....wait and see.
if you are a chart person, I suggest you should short at open with the gap up. I doubt gap up would exceed 1256 (61.8% fib level) which is resistance. So when price action gets close here may form double top pattern, very bearish pattern by friend.
Also, search for Tom DeMarkon Bloomberg site, he predicted a pull back to come soon when SPX tags 1256.
"Private investors agreed Thursday morning to accept losses of 50 percent on their Greek bonds, an official said, removing the last apparent roadblock to a broad European plan to solve the continent's debt crisis"
If I read this correctly, that sounds like GOOD news to me. However, markets had already priced this in. Remember buy new rumor, which markets had done that past three weeks when buyers speculated of some kind of plan would be in place to rescue EU crisis. Well tomorrow after release of the plan, markets should go to sell mode. So, in that sense, I do agree with you that markets already topped and are about to reverse due to "sell on rumor"
Absofuckinlutely not in this case. This was the green light the market needed to take the sp back to 1370 and beyond. This could even be the start of a new bull market. It has been 11 years that the market has been trapped in this trading range and this last sell off was the last of a 3 phase bear market. Markets move substantially higher from here over the coming several years.
S&P500 future presently up 14+ points.
If it holds when markets open, SPXU could be trading at 14.50 - OUCH!
The world wants to see a resolution to this Greece mess. Once over, S&P500 could easily go 1300 before a reversal.
G man called an accurte picture. It was time to board the UPRO jet earlier today heading to 60.
Will look at SPXU when it goes near 14.00.
No Asia is not tanking. Its actually flat right now. Stop kidding yourselves. This whole Europe BS was just that BS. Big money traders exploited it to make money shorting the market so that they could make big money now running it back up. If you look at a weekly SP chart the chart says this run has 1360 at a minimum in it.
The Futures are not reacting to the news at all.
"Will the sound of 1 trillion euros do the trick and 'wow' the markets or will the markets perceive this as smoke and mirrors?" she asked. "If the past two weeks tell us anything, it has been that the market is hoping for final resolution."
This is very telling. They will say what ever they must to calm the markets.