Thursday, December 10, 2009

Greece a preview of what's to come shortly to the S&P 500?

I think maybe Greece can be used as a leading indicator of what is to we have a textbook 5 waves down in impulsive fashion...

Athens General Shares


  1. Wow, what a textbook pattern!
    Too bad $ATG doesn't have volume which could clarify if it's a correction (5-3-5), or the start of a 3rd wave. Either way, looks like a logical possibility. Thanks Robert

    Mark at CEO Trader

  2. Thanks for the post. Yeah, I thought this was a very interesting pattern. Maybe NBG (National Bank of Greece) could be used to interpret this pattern?

  3. Yeah this does look great Robert, hard to argue against it...
    the technicals are weak, and the fundamentals are a train wreck!

    I am interested in what happens to the Euro because of this....

    the single european currency system really puts a straight jacket on the Greeks... and if they will have to default on their debts (in euros) that could be HIGHLY significant!!

    The whole system of a european single currency seems flawed to me... so we shall watch and see.

    Certainly these are fascinating times we live in.