But that’s not all. As you know the bottoming process spreads out during 3 days from March 6-9; so that means the whole week will be a big time golden spiral window. Just stay with us, you’ll see. We’ve caught just about every important market turn for the past 16 years.
Suddenly, markets are hitting trouble all over the place. I can’t tell you how many outs we have left but it appears we are starting to run low. We are coming to the slowest trading period of the year so I don’t think the market is in any imminent danger but I am starting to get concerned about what can happen in the fall.
Risk is still extremely high and I still believe there could be an event before the end of the year that torpedoes the market. For right now we are due to back and fill. Like March 2011, a decent move commenced but it lasted about 6 weeks. We are coming to the second half of July, its vacation time for the markets. Nothing too drastic should happen here as August is just about the slowest month of the year. But once September gets here my antenna will be out.
At the end of the day explosions like these end up having geopolitical implications. While it may not be tomorrow or next month, I believe that if Greece leaves the EU they will be tempted by Putin who must be standing by and laughing at all this.