Who Cares About Greece? It Is All About The Dollar
Author: InTheMoneyStocksNovember 03, 2011
This morning, the S&P 500 Index e-mini futures (DX Z1) are trading higher by 9.00 points to 1243.25 per contract. The overnight moves in the futures market was nothing short of wild. Around 3:00 am EST the S&P 500 Index futures were trading lower by 15.0 points. Obviously, the catalyst for the stock market rally is the Greek referendum story again. There are reports that Greek leader George Papandreou will resign today. Who can believe any of this news? The irony of the entire situation is how the market rallies higher on this pathetic news. Greece should not be the topic anymore, the problems are really with the debt of Spain, Italy, and France. Oh well, this is the world we live in. Traders can simply ignore the noise out of Europe by following the US Dollar Index. When the US Dollar Index declines the stock markets will inflate and trade higher.
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