Home > Uncategorized > 2012/06/29: Quick Post: Germany saves world… Maybe

2012/06/29: Quick Post: Germany saves world… Maybe

© 2012 ROHR International, Inc. All International rights reserved.

Short & Sweet on the specific market comments in this post, because today’s TrendView Brief Update was an extended discussion of the various price whipsaws back to psychologically important areas after the Euro-zone love fest into this morning. In fact, while a bit of that is follow-up on the other asset classes (i.e. outside of equities), the psychology and technical trend structure are also right back into the key US levels.

And as it relates to the key September S&P 500 future, the replay is almost exactly the same as the optimistic run-up into the FOMC meeting last week. It all seems consistent with market reactions to previous Euro-zone grand bargain announcements, and Yankees Manager and Malaprop Master Yogi Berra’s observation, “It’s like déjà vu all over again.”

Yet, as has been typical, the European moves raise as many questions as they address…

 

…and we will once again need to wait until next week to see how the Europeans address the classical ‘devil in the details.’ And for the markets that includes important evolution of some of the key technical trend indications, based upon whether there are indeed slightly more constructive developments in Europe. As we have seen in the past, that can have anywhere from a 72 hour to approximately 5-day lifecycle prior to greater contention weighing on the situation again.

And the equities are acting like they believe the grace period is likely in place. Yet, due to the degree to which the discussion has turned into the mechanisms by which European weak sisters are going to try and avoid taking on additional debt to rescue their banks, it looks like another Jerry Maguire (“show me the money”) Moment for Germany and its northern European cohorts is looming large into no later than into the middle of next week.

In any event, there are neither General Market Observations nor EXTENDED TREND IMPLICATIONS, in today’s post, because all of that is covered in your courtesy access to today’s TrendView Brief Update.

Thanks for your interest.

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