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 come....here we have a textbook 5 waves down in impulsive fashion...

Athens General Shares

Posted by Robert Hammer at 12/10/2009 09:53:00 PM
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3 comments:

  1. Need an extra?December 10, 2009 at 10:33 PM

    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

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  2. Robert HammerDecember 11, 2009 at 12:21 PM

    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?

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  3. Max AndronichukDecember 15, 2009 at 11:33 PM

    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.

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