Monday, February 27, 2012

Update

The German Bundestag just voted for the second Greek bailout, although I doubt this is surprising news.

The Euro's reaction thus far seems muted.
Although technically that is a bullish ascending triangle, however I would have expected more of a knee jerk reaction.

As for the averages...

 The DIA

 The IWM

 The Q's

 And the SPY...

 The NYSE TICK has recently gone very negative in the -1000 area

GLD seems to be moving lower as well.

In the near term, I think the market will follow the Euro, but the parabolic gap fill doesn't look like there was any underlying strength behind it.

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