key risk points.for a real meltdown., page-3

Here's what I think.

I think Europe will actually rally from the opening in the first hour into the data. The key is OECD. That report will dictate the movement overnight. If it counteracts the World Bank report, then 880 should hold on SPX and might even get back to 904.

Housing data is really not that important I don't think. The key is the yield which the bonds are sold at, and we wont know until 1pm US time. If it gets anywhere ABOVE 4%, the Dow will be hammered. Right into the close.

And then you have Brian Johnson cutting Aussie banks to underweight, and Moody's this morning downgrading Aussie banks. Not to mention Macquarie's 92 page report downgrading the banks as well.

Then Wednesday there is more price sensitive data out in the US but I will post that tomorrow.