Petros Steriotis- HA: Don’t be complacent, nothing is over…
Good evening MM Friends,
- Return to the “fortifications” by reinforcing the view that in life there are more important things than “papers”. If in doubt, pay a visit to beautiful Aegina.
Whether you visit the temple of Agios Nektarios located on the island, or admire the ancient Greek temple of Afaia, or simply try the Aegina pistachio and swim on the beautiful beaches, you will enjoy the experience.
- An alternative – but “all-weather” – way to “escape” more easily from the non-stop “chasing” of the Markets is to not take stock market risks that take you out of your mental, physical and financial peace of mind.
Looking at the General Index after the close and the previous week, we briefly state:
a. The monthly close of DG at the highs of July is significant.
b. The breakdown of the downward resistance line, which depicted the “cap” of investment psychology, is positive (see chart).
c. The reversal of DG from lows of a year and a half to highs of a month and a half is impressive.
d. The disconnection of the AXA from the American seems to be a thing of the past. At a two-month high, the S&P-500 “blessed” the prevalence of buying on the AX.
e. However, do not be complacent, nothing is over. Who knows if the latest rally is a “dead cat shake” or something very good and upwardly fertile?
Yours sincerely
Petros Steriotis
The positive aura of the recent meetings of the Athens Stock Exchange should not disorient investors
The positive aura of the Athens Stock Exchange’s recent sessions should not disorient investors, as the catalysts that sent it into a long-term downtrend remain.
From a diagrammatic point of view, for the General Index, the one and a half month high in the area of 840 – 850 units remains the level, a possible exceedance of which would signal a reversal of the general downward trend and while the psychological supports of 800 – 790 units should not be lost from scratch.
At the individual stock level, the vast majority are below the 200-day moving average, confirming bearish sentiment across all caps.
In our case, the investment tug-of-war is being pulled on the one hand by the support of the tourist wave in the GDP, on the other hand by Kassandras, regarding the deterioration of developments on the geopolitical chessboard (see Energy flow, Ukrainian, relations with the “Neighbor”, etc. )
As far as interest rates are concerned, the decision of the ECB to turn them into positive territory, after a whole decade, combined with the rhetoric of support for the bonds of the European Region, have reduced the yield (yield) of the Greek ten-year bond from the fringes of 5%, in the 3% zone within a few weeks.
Πέτρος Στεριώτης (Χρηματιστής) Petros Steriotis 