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Greece Stocks New Bull Market?

Stock-Markets / European Stock Markets May 06, 2011 - 05:28 AM GMT

By: Willem_Weytjens

Stock-Markets

Best Financial Markets Analysis ArticleWhen I saw the CDS prices for Greece debt, I was wondering “How High will they go?”
I thus started to dig deeper, and had a look at some long term charts of the Greek Stock market.


Here is what I found:

The Greek stock market is now at a major support level (horizontal green line), and also at a long term uptrend support line (red line). The market is now at 2008-2009 crisis lows.

Chart courtesy TradingEconomics.com

Here is a chart of the Greek CDS Prices (which looks a bit Bubbly, doesn’t it?): (courtesy Bloomberg.com)

What is so strange about this move? Well, it looks a lot like the Greek Stock market move from 1997 until late 1999:

Chart courtesy Omnifinance.gr

When we lay one chart on top of the other, we get this result:

If history is any guide, Greek CDS prices may start to decline sooner than later.

Is this the end of the Sovereign debt crisis? Who knows, but all good/bad things come to an end.

If it is, we can expect the Greek market to start a new Bull Market.

If it is not, and the Bottom falls out, watch out below, because there is almost no support:

Chart courtesy Omnifinance.gr

Subscribe now for more analyses!

Willem Weytjens
www.profitimes.com

© 2011 Copyright Willem Weytjens - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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