Last week's European political shenanigans are yet to impact the technical picture of the markets. Of course, I am talking about the markets and time frames that I post about on this site. While posting charts tonight for all those markets, I was struck and (shamefully) somewhat surprised by how little has changed compared to last weekend's charts.
While political and central bank activities often cause volatility, they never cause a change in larger degree trends. If anything said activities are caused by the larger degree trends. Would last week's European political action be required if we weren't in a bear market? Have a think about it.