Day behind with SPX. Nothing new and exiting by trend point of view since it didn´t do any new lows or highs compared for previous days.
However, DAX and CAC + MidEurope was little bit more exiting, there has been speculation that Societe General – one of our biggest bank from France might get bail-out because of Italy notes troubles. So far it has been rumour only going on for last 5 days since last weekend and bank denied it to be true also later but during the late afternoon it landed -17% which is pretty big change for Bank stock, it also cracked french stockmarket back to monday low, taking it even slightly further for 3000 points. It also cracked DAX back to pretty much same place where monday low was so far. Euro did react for this also with reasonable big pips.
The french primeminister Sarkozy together with their Government has cancelled theirs summer holiday and french government keeps on-going emergency meetings because of financial market melt-down.
