Monday, July 13, 2015

Morning Charts 07/13/2015 SPX /es

"Lost national sovereignty", I guess there are worse scenarios, but not really.

"In other words, Greece will be liquidated piecemeal to repay creditors. In even other words, the proceeds from the Third Greek Bailout will not only not reach the Greek people, but Greece will have to sell itself in pieces to top off the creditors' funding needs.
Dijsselbloem concludes: "That is good for Greece, but also good for us. We are in the end the ones from whom the money is borrowed.""

So when Greece is finished selling off its last ship, acre, grape orchard, gas rights, what then? The debt will still not be paid off. Effectively, "Greece" now exists in name only. Wow.

China is still imploding, but that apparently is of no consequence here. I think that's bullish actually.

On to the lie -

Really nice recovery in the futures. 

SPX Daily - 200 dma.

SPX 15m - 2100 next. Nice overnight barrage to gap it through this resistance area.

Freedom watch -

Greece selling out should be at the top of freedom watch today - it's not every day you see the 'birthplace of western civilization' fall to socialism and corruption. This = NOT GOOD.

More to come below.

Have a good week. 

GL and GB!

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