The two charts above are self explantory. Month to date the performance of risk on trade has been better MoM by large amount. WTD - the risk on trade is building on its profits.
The news out of Europe was very specific in terms of numbers - ( €106B capital deficit, 50% haircut on Greek bonds, and leverage of the EFSF up to €1T). By the looks of it market likes it for the time being and the money that was on sidelines would be itching to get in if not already in.
The US markets are overbought at the moment but the price momentum seemingly is large and we may see further gains in the market.
Gold as suggested by a post earlier has probably made a double bottom and now looks to ride the gains well into the financial year end since these are seasonally favorable times for yellow metal as well.
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