15 thoughts on “CHARTS OF THE DAY

  1. Sooze

    “The fundamental driver for the crash will be a Greek exit…”

    Don’t see that happening anytime soon (hope I’m wrong).
    The Greek tragedy we see being played out week after week, month after month, is all Kabuki Theater.
    The ‘markets’ get juiced on every deal rumor, yet fail to retrace as soon as the rumor is denied.
    There’s still more ‘rinse and repeat’ left in the Greek situation.

    Now China… that’s another story. We could be looking at a crash there in the coming week.
    The politicians must surely be nervous and planning at this very moment how they can prevent a crash from happening.

    1. Theryl

      I agree. It seems that intervention is the new norm. Now everyone’s doing it. “Too big to fail” will apply to Greece. China will do it too. I think Iceland did the right thing, but that was anomaly.

    1. gary Post author

      Gold hasn’t responded to political events for over two years now. I think gold will need the dollar to start the next bear market before it’s likely to get any real traction.

  2. John

    Overall, I would agree with your analysis on the general market.
    I on the other hand, I do not believe that Greece will leave the Euro, some kind of an agreement will be made, which will cause the $Euro to rally and the $USD will continue its downtrend. Gold will continue to go up as the $USD falls.

  3. Bob UK

    ECB pumping money into Greece this morning. European markets up as a result. Doesn’t this now just extend the cycles and we will see the US markets up today and this week? Collapse postponed for a few months?

  4. Stefan

    Yes I agree Gary and there is an upper trendline with a multidecade long resistance line at 2120-30ish, a cpi adjusted s&p chart show this, if no major brakeout before the start of July, all sorts of alarm bells are ringing. The pattern in S&P is a distribution pattern.

    No 1987 crash just yet, the EW count for Nasdaq doesn’t fit imho, but then what could possible make stockmarkets continue higher, qe4?

    The bond yield is going up and that is not a good sign for stockmarkets and bond price of course.

    The stockmarket rally in Europe today is coming to an end soon, with or without a grexit imho

    Borrow billion of euros to pay billions in debt … crazy

  5. Jonathan

    One of the engines, AAPL, is barely working, but we still have the other one running strong, the biotech.

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