excerpt from zerohedge
Many legal fees will be spent in the coming days and weeks for the proper "market-friendly" interpretation of the following clause from the Maastricht Treaty:
ARTICLE 103 a
1. Without prejudice to any other procedures provided for in this Treaty, the Council may, acting unanimously on a proposal from the Commission, decide upon the measures appropriate to the economic situation, in particular if severe difficulties arise in the supply of certain products.
2. Where a Member State is in difficulties or is seriously threatened with severe difficulties caused by exceptional occurrences beyond its control, the Council may, acting unanimously on a proposal from the Commission, grant, under certain conditions, Community financial assistance to the Member State concerned. Where the severe difficulties are caused by natural disasters, the Council shall act by qualified majority. The President of the Council shall inform the European Parliament of the decision taken.
5. So far the assumption that markets would turn down today after a retest of 1080 yesterday worked out. The rest of the week should drift lower with a daily close below 1055 as a confirmation. A typical week 4 performance unfolds and week 5-6 will be to the upside after retesting the lows or rather making new ones. Some indicators start to reach extremes as the Rydex with others being neutral.
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extreme oversold if valid ( not so sure as they have some strange moves)
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