S&P Downgraded European debt on 1/17 and the Power of the Pattern reflected this could be good news for investments- (see post here) … Greek ETF(GREK) gained 40% and the National Bank of Greece(NBG) gained 100% in the three weeks after the downgrade-
Was bad news good for stocks? Could good news do the opposite to them?
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Yesterday morning Greek Leaders announced that a bailout agreement is at hand. (see CNBC article) How interesting this news comes out as Investor bullish sentiment is hitting loft levels, tons different than 120 days ago (see post here)
Could this positive news out of Greece be bad news for investments? Will be tough to stop the positive momentum the market has… do make a little note on the calendar of todays news and lets see down the road if it was a key date like 1/17/2012 ended up being.