He is also bullish on the German stock market (Frankfurt DAX) and bearish on German bunds (government bonds). I charted out the DAX and German Bund ETN (BUNL) below. Actually, BUNT (3x German Bund ETN) looks interesting as well. German bund yields are available at Bloomberg.com (10-year German bund yield). Interesting. So, are DeMark's indicators predicting that a "hard Greek default" will be averted? Or is his call for the short-term.
Greece can't make a €14 billion bond payment on March 20, so it is trying to cut a deal with private creditors to swap into new Greek debt at a loss so it can get bailout money from the European Union and IMF. Read the articles below for more information. There's a meeting today with finance ministers and an important EU summit on January 30. Wow, EUR/USD is up 0.83% at 1.30. Something is up, at least in the short-term.
Greece Crisis Set to Dominate Euro Talks (WSJ)
EURO GOVT-Uncertainty over Greek talks boosts German Bunds (Reuters)
Euro Leaders Seek Crisis Fix as Greek Talks Drag On (Bloomberg)
IIF says creditors at limits of "voluntary" Greek deal, 65-70% loss (Reuters)
On Greek PSI - Headlines And Reality (by Peter Tchir at ZeroHedge)