sp'daily5
Summary
*am collating data...... bear with me
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Okay.. so. with things as they, the sp'2050s have been lost, with the recent low of 2056 being decisively taken out.
I am well aware a fair few are seeking a floor in the 2040s.. or even 2020s.. but what is clear... the Greek result is majorly bearish for equities this Monday morning.
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China Govt' is in semi-panic mode.. and it will be interesting to see if they can manipulate a net daily gain in the Shanghai comp'. Considering the Euro turmoil... it won't be easy.. even if they hit the BUY button across the day.
*China opens in another 3.5 hrs
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6.11pm.. sp -26pts... 2050. intra low so far.. -32pts @ 2044.
In scheme of things... nothing too extreme, but still... some key downside breaks already achieved.
6.25pm.. sp -27pts... 2049... notably.. unable to re-claw back above the 200dma.
So... where will be the buyers come in this coming week?
2040s? probably not.
2020s... maybe
2K.... absolutely... but at this level.. it'd really be a problem for those seeking new highs in August (or even Sept)... which does include yours truly.
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6.38pm.. EU indexes are naturally weaker, French CAC and Germany DAX, both lower by around -3%.