Market Futures are UP-UP-UP
Unfortunately there is a good chance a pop and drop is in play. The wave counts for the NDX, SPX, INDU futures indicate the computer glitch was part of a wave 5, and the markets were gong to make a corrective move. The futures are just below the fibonaccci 62% retracement of the larger wave the crash was part of.
Fundamentally, the world has seen the uselessness of the financial rescue and bailouts in the US. The EU approach is no different. C'mon, how can the EU "defend" the euro by printing more of them? Fool me once... If the EU does successfully prevent wolfpacks of bond shorters, then nobody will cover as the prices of bonds drop to the printing of euro's. This situation is even more unstable than letting Greece default and its lenders taking a hit. With fewer euro's on the books, the remaining ones should become more valuable in theory.
