This is an update to our earlier Elliott Wave analysis of the Greek stock market which has followed our forecast to a tea and declined steadely during the year.
Technical analysis of the Greek stock market. Source: Elliott Wave Technician
We think that current decline of the Greek stock market in wave "5" could last until June 2016.
This has implications for the Greek banking system. Will a another collapse of the Greek stock market to new record lows put the banks in a similar situation as banks in Cyprus or even worse ?
Geir Solem
Elliott Wave Technician
Copyright (C) all rights reserved
Technical analysis of the Greek stock market. Source: Elliott Wave Technician
We think that current decline of the Greek stock market in wave "5" could last until June 2016.
This has implications for the Greek banking system. Will a another collapse of the Greek stock market to new record lows put the banks in a similar situation as banks in Cyprus or even worse ?
Geir Solem
Elliott Wave Technician
Copyright (C) all rights reserved
