Friday, October 17, 2014

The Greek Stock Market - Feast of the Bears

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
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