Just like the path of true love the path to making money in the markets is not a smooth one.
The overnight reaction to the now well-reported ‘Italian Job’ has been nothing less than an ever-worsening ‘shack ‘n awe’ reaction.
To be fair, in my opinion, the reaction is somewhat overdone; however it has triggered much technical stops along the way with many levels broken.
Add into the mix the usual month-end flows which may increase for fund rebalancing due to the big moves.
Expect Europe to take a breath to work out the next move.
My only advice at this juncture is to watch for a lead and keep positions manageable and powder (generally) dry.
