Ashraf Laidi on CNBC after the PSI Deal - Mar 9, 2012

Mar 9, 2012 7:44

Ashraf Laidi speaks on CNBC minutes after Greece secures its agreement on the PSI deal from 86% of creditors. All these PSI acrobatics were aimed at enabling Greece to receive its 2nd bail out and meet its March 20th payment. There are no guarantees that Greece will not need a 3rd bailout as the nation enters its 6th year of recession as well as prolonged policy following the outcome of the elections later this year. Let's also not forget that negative Eurozone pressures (rising yields, falling euro & surging CDS prices) tend to be exasberate the euro siuation as these are draged by risk aversion, which may be the result of oher exogenous factors such as less dovishness from the Fed

Latest IMT - Mar 31

10 Pct Limit

The S&P500 index, the most widely followed index in the world (in terms of benchmarks) has now fallen exactly 10% from its record high. Major markets such as S&P500, EURUSD, XAUUSD, oil etc are widely scrutinized when their drawdowns reach high profile figures such as 10%,15% and 20%. At these points, algos and automated buy programs are alerted and even triggered. Similar action when these markets reach high profile moving averages such as 55, 100 and 200. In today's case, today's SPX 10% decline coincides with the 55-DMA. Note in the drawdown charts below, what happened when SPX drawdown reached the 10% level. The most likely scenario (according to multi-year cycle averages), indices will have a positive April before resuming fresh downside ahead.

Click To Enlarge

Latest Hot-Chart - Mar 30

Patterns on Fridays & Mondays Since the start of the war on Iran, the pattern of falling Fridays in US equity indices has become obvious. Will the pattern ends this week. View Hot-Chart..

Intermarket Analytics

21-yr Intermarket Charts - 7 indices 11 currencies 14 commodities Chart

21-yr Intermarket Charts - 7 indices 11 currencies 14 commodities Interactive charting by instrument, chronological and alphabetical order. This enables organizing each individual commodity, currency or equity index' performance by magnitude or chronological order. View..