Inquiring minds just may be interested in a gap-and-crap comparison of the the S&P; 500 index, the Spain Ibex index, and the Euro.
Spain Ibex Stock Market Index
S&P; 500 Cash Index
Above Charts From Yahoo! Finance Major World Indices
Annotations by Mish
Euro vs. US Dollar
Above 15 Minute Chart from Stockcharts.
The 6% gap-and-crap action as happened in Spain is not an everyday occurrence to say the least. Clearly, the bailout euphoria was totally unjustified, as called in advance.
For a look at the European bond market selloff, please see An “Emperor Has No Clothes” Moment: ESM Has Failed Already
Mike “Mish” Shedlock
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