This shock really came as a surprise to many... and Asian markets are reacting.
Expect the Western markets to do so as well later this evening as the futures and FX markets are undergoing volatility while the Western world sleeps.
/ES S&P 500 futures gapped down and is 1.18% lower. Nothing major but it could be the start of something to watch for this week.
Expect some pent up fear to project into the markets particularly after a good run in recent weeks.
See http://www.marketwatch.com/story/what-analysts-are-saying-about-cyprus-tax-shock-2013-03-17
This may be the first of a few more to come...
The MadScientist
18th March 2013
Note: ALL material posted here is from my personal opinion, and my opinion may differ or change without notice. These do NOT constitute as solicitation, investment nor financial advice. By reading the materials presented here, Readers acknowledge the awareness that the materials are intended for educational purposes only. For investment(s) advice, related decisions and/or actions pertaining to investments, always consult your own qualified financial advisors, brokers, etc.
Charts are from TD Ameritrade Thinkorswim platform
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