The Greece market has broken critical supports. The euro is following the same pattern. Technically, we should see new lows in the euro. The up-trending channel is at risk. I am thinking in 1.25 the first target if it breaks 1.3222. In addition, take a look at the relationship between the Euro, the 10 year treasury bond yield, the Greece market and the S & P 500. The treasury bonds keep their soft down trend while the Greece debt is going down. The fly to quality is absent, the question is: how long?. The S & P is almost reaching its target at 1,228 points. I am wondering which could be the effect in the markets if a debt crisis begin in Europe.
ATG daily chart: notice the positive divergence in the MACD. May be we could see a double bottom. 1.790 points is the critical pivot point.
ATG weekly chart:
Relationships between the different markets: notice how during the second semester of 2009 the negative correlation between the TNX (10-year treasury note index) and the ATG. In addition, the euro has become irrelevant with respect the SPX. It seems that there is no correlation between them.
Euro/Usd monthly: important support.
TNX daily chart: