Sunday, August 12, 2012

Greece - is the worst over ?


Can the low of 476 in June be the bottom for the Greek market after its has dropped 91% ? And the major wave C has completed 5 waves as shown. It is possible that the market has already factored in the worst possible scenario for Greece.


However if the major wave C has 9 waves, then the index may drop another 50% or more from the current level.


Dow

In the last 4 trading sessions Dow was able to stay on top of the upper resistance line but was not able to pull away. The volume was simply not there. Wave iii of 3 has to be dynamic with high volume.



The low volume indicates that there is no mass participation. It is possible that the market is being artificially supported by you know who. 


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1 comment:

  1. AnonymousAugust 13, 2012 at 5:41 AM

    Volume participation for the US markets is non-existent. This is an election year and also you know who QE experiment needs to be proven right, EU Eurozone experiment too. So I believe there are several you know whos.

    Nice blog Sir.

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