Overnight Shanghai plunged another 5.9%. Now the Shanghai has plunged 32% since mid-June.
On the other hand, Greece promised to implement pension and tax reforms as early as next week as the first step to securing a three-year rescue loan to cover debt obligations, according to a letter requesting the funding from European partners on Wednesday.
The SPX and market players are creating a larger value area from 2030 to 2070 accepting lower prices than last week.
Europe is having a positive day however the Americas are mostly negative. I am thinking to start hedging – with macro trades to ensure capital preservation.