Bear market territory, says who? That is history since October 4th!
In fact, the US benchmark indices: Dow and S&P are in bull market territory. The measurement for correction and bear market are 10% and 20% respectively. Hence, the Dow and S&P which reached 12,000 and 1,290 last month had more than 20% gains since the first week of October.
Similarly, in HK, the low was around 16,000. The high recorded recently was 19,200. Similarly, South Korea, Indonesia, etc have risen 18-21% from the low in October.
At time of posting, Singapore time Sat, 130 am, "the Italian FM warns the PM, If You Don't Resign, There's Going To Be A Bloodbath In The Markets On Monday" (We really don't need this. The Director of ths EU saga needs to be shot!) This will make a count of TWO (resignations) in total if the Greek vote of confidence is YES!
US benchmark indices closes an average of 0.5% on Friday. For the week, the US indices closes down ranging from 2-2.5% for the week snapping a 5 week winning streak.
The Greek vote of confidence is still running at 415 am.
Updated Saturday. Greek wins vote of confidence.
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