BarroMetrics Views:Greece 2015-03-25
The Greece issue may be close to a resolution. Depending on the news source (Reuters 4-20) or Deutsche Bank (4-24), Greece will run out of funds by April 20 or April 9 respectively. What is clear, is we are nearing an inflection point. Who will blink first – Greece or the EU? If there is no comprise and Greece defaults will that mean a Greek exit? And if so, will the exit rock the markets?
In the meantime, the DAX gave me a buy signal last night. Tonight, I’ll need to see an upside continuation to hold the long position.
The S&P’s pullback was on reduced range and volume. This suggests a retest of the support at 2076. Acceptance below 2039 would provide a sell signal (Figure 1 for S&P).
No blog tomorrow. I am leaving today for Sydney.