Prior Week Market Movers, Analysis And Lessons: Why EU Really Is Doomed

By Cliff Wachtel:

Below we review the prior week market movers and summarize why the EU really is doomed without some radical changes in policy, (none of which are likely to occur quickly enough, if at all) and some guidelines on how to prepare yourself

Looking at the daily S&P 500 chart below as an overall barometer of risk sentiment, here's a summary of the primary market drivers behind the daily moves, which accurately reflects what was driving risk assets each day.

S&P 500 DAILY CHART

Source: MetaQuotes Software Corp, thesensibleguidetoforex.com

02 June 24 0008

SUMMARY OF TOP PRIOR WEEK MARKET DRIVERS

1. Monday

Markets modestly lower on Greek election results, as all realize that Greece's dire situation remains the same. An unstable government saddled with obligations it can't afford to repay yet no sign of willingness from Germany to reduce the Greek burden to the extent that might save it from eventual

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