The money promised Greece by the EU will only be released if the Parliament agrees to Austerity plans latest June 28. Most specialists believe that will be the case. However there is a second round of votes that will implement the reforms and that must be voted on before the EU meets July 3 which is a Sunday.
This second round is not believed to be easy and a no vote will stop the whole project. If the voting takes place next Saturday the market can react first Monday the 4th.
On Monday June 27 all indexes I follow in this blog will have sell signals on the weekly charts except for Dow30 which is very close to sell signal. Indexes with sell signals are IBEX, FTSE100, Swe30I, CAC40, S&P500 and DAX.I. The definition of sell signal is that the 8 week MA has turned down and crossed the 21 week MA which also has turned down.
The combination of voting in Greece and the sell signals might get the markets volatile.
This second round is not believed to be easy and a no vote will stop the whole project. If the voting takes place next Saturday the market can react first Monday the 4th.
On Monday June 27 all indexes I follow in this blog will have sell signals on the weekly charts except for Dow30 which is very close to sell signal. Indexes with sell signals are IBEX, FTSE100, Swe30I, CAC40, S&P500 and DAX.I. The definition of sell signal is that the 8 week MA has turned down and crossed the 21 week MA which also has turned down.
The combination of voting in Greece and the sell signals might get the markets volatile.
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