The collision of global markets and social mood

Friday, May 20, 2011

Testing The Bull/Bear Line

Right now the S&P is testing the bull/bear line around 1332.

Norway has reportedly stopped aid payments to Greece. Is today the day the EU and the Euro gets taken out to the woodshed? I don't know yet.

But I find it interesting that the European protests that I've been noting which seemed to have been spreading from Spain to Italy then to Germany and then pan-Europe have -- according to Twitter anyway -- appeared to have dried up. They are no longer occupying the top trends list in their respective countries. Whether this is censorship by Twitter in order to quell unrest, I do not know.

It's interesting today that the Euro is under pressure and Norway is putting the screws to Greece.

I'm a bit groggy today. Didn't sleep all that great last night and feel a little slow. Overall, feeling better though. So far the bull/bear line is lending support to the market, and I'm long. Let's see what the day brings. I could be flat real fast.

***UPDATE: Fitch downgraded Greece.

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