Wednesday, May 25, 2011

5/25 10:30

CJ posted a link to the fallout from a Greek de-facto default.  Revenge of the Greeks
While Greece will not seek explicit revenge there is a fair amount of animosity toward their northern neighbors.  The Greek people will not go quietly into the night.  When the default comes it will hit all in the pocketbook and their history with the red party will assure plenty of street action.  This will fan the distress in Europe.  Question is, exactly when will Greece default or issue the devalued Drachma?

SP futures are back again to their 30-minute M/A with another, longer M/A converging.

7 comments:

  1. Steve,

    Do you expect to short silver before the end of the day?

    Thanks,
    Dan

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  2. I expect to short silver in another few days at around $39.

    ReplyDelete
  3. Steve,

    Your post said 30 min MA, but the chart itself is 15 min.

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  4. pima, I carry this same M/A on my 15-minute, 30-minute, and 60-minute charts. I just adjust the length accordingly.
    I chose the 15-minute chart because the green line is a longer M/A that is converging with the blue (30-minute) M/A.

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  5. Steve,

    On your daily plot of the DOW futures with the MA's--how wide are the envelopes around those daily MA's?

    Or do you use only the MA's on the daily plot and no envelopes?

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  6. The DJ daily blue line has an envelope of .57% or 71 points (currently).

    ReplyDelete