sp'weekly8b
Summary
*lousy Swiss failed to stop the Argentines. urghhhh
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I noted one or two others kinda suggest it in recent days... but it looks like late July will offer a minor down wave of 2-3%.
Problem for those currently short, that 2-3% drop will probably be from somewhat higher levels. Whether that is sp'1990, 2000, 2010...difficult to say.
What is clear.. this is no market for a short trade.
Next problems for the bears...
Wed' Yellen at the IMF
Thur' half day...melt into the holiday weekend
Mon' sig' QE of $3bn
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coming up at 4pm .EST... Belgium vs USA... and that will be a fine way to end the day.