11 June 2012

SP 500 and NDX Futures Daily Charts - Rough Day for the Bulls, Tyranny of Money


"There have been tyrannical gods, and there is the God who makes us free.

Tyrant gods, nowadays, do not, as a rule, assume the names of gods. They prefer pseudonyms. But their tyranny remains the same."

Henri de Lubac

There was euphoria to the upside in the overnight futures as the Spain bailout cheered the markets.

The reality of the situation and the impending Greek elections chilled the markets during the day, as stock went out near their lows in a big reversal.

The hysteria and mood swings will become worse as the year goes on.