As you probably know, the S&P is forming a Golden Cross lately. This is where the 50 days moving average passes through (up) the 200 days moving average. To most technicians, it would be a bullish signal for the US markets! Or is the S&P forming a doji?
The market is there always. Be patient and wait up till US nonfarm payrolls registers on Friday. In addition, we have to wait how the market interprets the nonfarm payroll data and closes for the week. Whichever, the Golden Cross or the Doji, we have all the time to react after the market closes. Just be patient!
Meanwhile, the noise from Europe has been holding global markets. Greece is for one and Portugal for the other.
Is Europe playing time for an orderly Greece default?
Bond yields for Portugal auction dictates the markets lately. One day ...
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