In April, we correctly saw the weakness of this two months (much more pronounced in non-USA)
As news are really confounding, let’s see what the old technical analysis.
The negative stance is starting dissipating, but it really looks like a short term bottom with a rally into early July (window dressing?) and then a real test of SP500 2,070/1,970 in August (almost a repeat of what happened in the first US Debt Ceiling Showdown a few years ago).
The market also gave two Hindenburg Signals that would confirm this pattern.
On the bond side, again there is a oversold bounce which would last some when in July – but it is actually a moment to sell.
Gold looks interesting…I think this summer we will see the final bottom
If this is real it means that at the 30 June Greece will make it…..probably just to arrive to the next issue 20 August.
Or there is something else in summer coming from the bond market (the panic moment is still missing)
investorpolitico 