daytrading june 26 pre-market, page-5

Thanks M_A. You're right to be wary, imo. I'd describe myself as a cautious optimist but I don't see any political will to fix Europe's problems and they're running out of healthy economies to support the weak. Italy will be next in the firing line, then France and somewhere further down the line likely the UK, Japan and the US. Next month's US earnings season will be a litmus test - if earnings are genuinely starting to go backwards then the selling will likely accelerate.

Just speculation - there may be rabbits in hats that I haven't foreseen. The financial world has a habit of muddling through.

That said, I think our market is near a short-term bounce, if not today then later in the week.