Friday, February 7, 2014

The Greek Stock market - Return of the bears

The Greek stock market has been rallying since 2012. Our Elliott Wave analysis indicate that a 4th wave rally could be complete now. We think that a  new decline in wave "5" could last years.

The return of the bear in the Greek stock market ?  Source: Elliott Wave Technician

The banking system in Greece is already at the edge of the abyss. Will a new collapse of the Greek stock market put them in a similar situation as banks in Cyprus or even worse ?

Our advice: If you have bank deposits in Greece you should prepare for the worse.

Geir Solem

Elliott Wave Technician
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