ES Journal - 2012

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Quote from bigsnack:

Now of course I could be wrong, so take it for what it's worth, but the chart is starting to have a "meltdown" shape to it for me. My gut and eyeballs are telling me that we take out today's low tomorrow.
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it is an older complex pattern called adam and eve.
not that many people talk about it anymore.

there is also the 3 big pushes up visible on 30-min RTH only chart.

first pattern above has a target of 31.

2nd pattern has the target of below 37 tagged.
 
Quote from Lawrence Chan:

New Greece is coming,
http://www.zerohedge.com/news/greek-police-threaten-imf-arrests-due-austerity-demands

Regime change means every single dime borrowed by Greece as a country will not be honoured as that entity once dissolved, you cannot legally bind the liability to another country (new Greece) and its people.

This is different from a government change.

This is what EU is afraid of most.
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The EU banks are , but IMF and ECB will be ok,because no country has ever defaulted on their loans as that is their only place of last resort.
 
It is now Happy Hour in Mykonos and all the European bond holders have congregated on a cool,sunny afternoon.

The have all been instructed to touch their toes until they have agreed to writing off the paper 100% instead of the 70% haircut.

When they have agreed they can stand up and accept athe last free ouzo (austerity policy in place):mad: If they do not agree they will 'get it' anyway.

Euro will improve and ES could get back in the 40's.
 
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