I am going to.wait and.see what happens in the first 30-60 minuttes tomorrow. If the Euro is walking forward to the edge of the cliff and Germany is fed up with propping up the Euro, I would think any negative reaction to S&Ps rating will be very short term given what's going.on in Europe. If.its bad in Europe money will be running to.treasurieas.
the greek news moved the market into a panic several times only to watch it rebound,the banks are making a big 20 plus year move here,since the internet and mass information flow,and global mass lending /borrowing of wealth,the moves are much larger....is this a big or small news item...http://upload.wikimedia.org/wikiped...arcadegame.jpg/256px-Asteroids-arcadegame.jpg
I.am.biased.in the.sense I have thought.for quite some time the Euro will crumble eventually. Eventually could mean years. Or it could mean next month. This is my opinion and nothing more.
we've been hit with so many news bits over the last 3 years and the market has been resilient,it sort of softens you up so that you just don't expect the worst,that has nothing to do with whether or not it will happen
mar09 low to may 11 high fib retrace 38% is 1101 ,,candle top for 09 and bottom for 10(red line) is 1110=1115,yearly low using a channel top cloned to the 2010 low is 1134-37.. beware....europe usually takes for ever to come to an agreement,so odds of a continued move off of a rumor from europe with no decision to follow,use multiple news items about greece and PIIGS as a recent example