Shanghai will be stressed again - heading back towards lows. I am looking for open around 209 tomorrow, then who knows
It appears that Europe will cave on debt relief which will/has rally the markets. Unfortunately, this is the worst case scenario for the long term as now Italy/Spain/Portugal has a playbook for the future.
Ultimately there will be no accountability, potentially leading to a total breakdown of the financial system.
The 3 main things required to sustain human life. We are at a dangerous point here with Greece basically telling Europe that they will not repay their debts under the terms that the Europeans want. What if Europe caves and Italy and Spain ask for a similar deal? What about Puerto Rico and broke cities and states in the US.
At what point does money become useless and all that is valued is food, water and shelter?
I think Europe has to hold the line or risk the breakdown of the entire currency/banking system.
I disagree - I think SPY will be up big on a yes vote (at the open) and then slowly pullback, and will be down big on a no vote (and probably won't recover).
Place your bets
I called Thursday as the blow off top - we will be down every week into August. This week we finish at 207.20
Whenever there are rumors of a Greek deal, the market pops. I think we have gained much more on fake Greek deals then if there actually was a deal. At the end of the day, Greece is broke and will eventually go broke unless it drops out of the Euro.
I think for this market to break below 2000, we actually need a Greek deal so we don't have to worry about a pop due to a Greek deal.
Recently every large down day has been counteracted by a similar up day on the next trading day. Lets see if this pattern continues tomorrow - might be driving the AH uptick.