Greece is doing a number on the euro and that, plus a general decline in markets, has the eurozone ETF sinking below its 200-day moving average.
Here's the Athens composite index. Notice the 50-day has crossed the 200-day.
Here's iShares Spain (EWP) crashing through its 200-day. Spain is a bigger threat to Europe and the euro because it is a much larger economy than Greece and still has a housing bubble.
I have no idea what will happen next week, but it seems Greece is coming to a head. Once bailout rumors begin, they can only be stopped by very forceful action. Words will no longer satisfy the markets.
GOOG/GOOGL: Blowout Quarter, MSFT: Excellent Quarter As Well
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Google (GOOG/GOOGL) just reported a blowout quarter after the market close
Thursday. Revenue was +15%, Operating Margin surged to 31.6% from 25.0% a
year a...
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