9:51 Markets opened down under light volume. The DOW is at 12947 and the SP500 is at 1365. Several small cap trends have broken down through a sideways channel and that could signal more depression to come. $RUT is down to 800 off 0.28%.
As reported at SA.
@SA “AM At the open: Dow -0.13% to 12961. S&P -0.2% to 1367. Nasdaq -0.20% to 2970.
Treasurys: 30-year -0.13%. 10-yr -0.08%. 5-yr -0.07%.
Commodities: Crude +0.33% to $107.06. Gold -0.15% to $1707.15.
Currencies: Euro +0.2% vs. dollar. Yen -0.38%. Pound -0.22%.”
Spain is the next domino after Greece. But first let’s see Greece default.
@telegraph: “Spain risks being fined under new EU rules for a “grave” breach of budget limits, the European Commission warned on Monday, despite Jose Manuel Barroso stating that he was confident it would fulfill its commitments.”
Written by Gary