A red bias today as once again (you can't make this stuff up) the Greek bailout is cloudy. Dave's got
another great post on the subject and I'm sure this ain't the last word on the subject. Being somewhat of a conspiracy nut I wonder if the Greeks don't know exactly what their next bi-polar pronouncement will be and are front running the markets accordingly. If they do it enough times the central banks will make enough money to actually get them out of debt. Hey!, stranger (and truer) things have happened. That's how Rothschild made his fortune (
betting against Napoleon).
Meanwhile, back in the real world, here are the Ponzo Mosaic Updates for SPY and the Qs, which are looking amazingly bullish given the wall of worry yet to overcome. I've also plotted the XLF risk forecast since as we all know bull markets are typically led by the Qs and the financials. The outlook for XLF isn't quite so rosy but this may be in part because we only have 15 years of data to work with while SPY and the Qs have 25 years.
