Yes Greece may dominate the headlines short term but several key indicators are flashing warning signs. Of the 21 indicators i track on a weekly basis 12 are bearish the highest I have seen in a while. Here is a summary: 1) Transports continue to under perform the broader market last week, dow theory non conformation for over 7 months now. 2) Big move down in the summation Index yet again, no new highs in nearly 2 years now, market internals have been deteriorating. 3) Vix nearing a triangular break out to the upside and up big last week, no new lows in over 9 months now. 4) Crude down over 5% on the week 5) China down over 6% on the week 6) S and P is below the 20 dma and 50 dma 7) Euro and gold down on the week and looking to break down further
Yes Grexit news may trigger a near term bounce but the sustainability of it is questionable.
Submitted July 05, 2015 at 09:58AM by rajveers http://ift.tt/1JHbykE
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