The collision of global markets and social mood

Monday, July 13, 2015

Monday -- Strong Reversal On A Weak Deal

ES Futures:
Reversed last night's opening gap down to recover strongly into the green.

I would not want to be Alex Tsipras on the streets of Greece right now. He just sold the world's oldest democracy to a bunch of bureaucrats and got nothing.

CHF notably weaker again, along with EUR.

Would think EUR would be stronger due to getting rid of Greece, but maybe it's not a done deal yet, therefore potentially cautionary.

Continue to look terrible.

WTI crude still trying to rally from oversold. NG may have its sights on higher prices over the near term.

Gold still nowhere. 1153s.

S&P Outlook:
Weekly chart looks great . . .

However, there is still the possibility of a nearly completed ABC correction from the 2044.02 which could suggest new lows.

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