We often say that as technical analysts, “ours is not to reason why, ours is just to sell or buy”. But Greek stocks could be turning bullish. Cycle evidence suggests that the Athens stock market is close to a significant low and that the underperformance versus Germany is about to reverse. Euro Stoxx, however, are still bearish, 2% is pivotal for the Bund and the Euro has started a multi-month bear market versus the US Dollar.
Click here for PDF version of the report:
http://www.easyforexnews.net/wp-content/uploads/2011/09/308841.pdf
HSBC Global Research