21 July 2015

SP 500 and NDX Futures Daily Charts - Enter the Reivers

"The more I look at it, the less benign this bailout deal appears. Indeed it looks to me as if it was set up to do considerable damage to the Greek economy. Once this becomes apparent, Greeks are surely likely to change their minds about staying in the Euro. And I'm afraid I think this is the point. One way or another, Greece is on its way out of the Eurozone."

After the bell Microsoft and Yahoo showed weak results and Apple was an outright miss.

The stock cheerleaders were nervously trying to find something nice to say about AAPL   All of these were getting lightly spanked after the bell.  These are our new gods of the market!

Let's see how long the illusion can be sustained.

This is not the kind of situation that lends itself to reform. Or recovery.

Have a pleasant evening.