25 June 2012

SP 500 and NDX Futures Daily Charts - Risk Off on Euro Summit Concerns



It was a 'risk off' day as stocks were sold and investors moved into safer plays.

This is the end of quarter week, so the tape may begin to take a coat of paint in a day or so, barring more storms from the continent.

Funds tend to sell their losers first, then pump up their holdings to mark them as winners. So watch out for the old 'one-two.'

Interesting that gold and silver went countertrend today. I am surprised at how few have figured it out.