06 July 2015

SP 500 and NDX Futures Daily Charts - Putting the 'Con' in Confidence

"Let us dedicate ourselves to what the Greeks wrote so many years ago: to tame the savageness of man, and make gentle the life of this world."

Robert F. Kennedy

Today's market action was a twofold operation to

1)  give the people 'confidence' that a Greek default would be a non-event for the financial markets
2)  allow the financiers who were terribly off-footed by their mistaken belief that the Greeks would accept the Troika's domination some time to square up their accounts in their mispricing of risk.

Have a pleasant evening