But Jobless Claims just came in at 480k.

http://finance.yahoo.com/q/bc?s=EURUSD=X&t=5d&l=on&z=m&q=l&c=

this feels like consolidation in the high es 1080s and the up later today. dax should not make new lows after US open if you are a bull.

Therefore it is the French who have a real interest to ensure the greeks do not default.
However , I think you miss the real point with the Greek situation. They have run a primary deficit since they jouned the Euro. Therefore they need to reign in spending to a point whereby they generate a primary surplus to live within their means. I do not see any country willing to increase taxes on their own electorates to allow ongoing greek largesse, do you ? Therefore the question is how much external support is required , in the form of a low cost bridging loan to make the medicine that needs to be taken by Greek society palatable. The European electorate has no interest in seeing their hard earned tax €’s being spent outside of their own national boundaries.The concept of Multilateralism is going to face severe heawinds going forward IMHO .

I like Corey, his naming conventions and that super article about the 12 failed signals. There were more, but he’s pointing out the Market Myth Miff’s (LOL) I’ve been proclaiming.

The only way I see getting around failed signals is by using oscillators that follow price. Either that or trendlines and they are hard at times to use. Both are lagging indicators but they are better than the guessing game.