Euro Zone Leaders Agree to Lend Spain Up to $125 Billion
Published: Saturday, 9 Jun 2012 | 3:42 PM ET Text Size By: Reuters
Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.
Please notice:
MACD curve on spy daily chart for this down trend which started from Apr 1 to current time, has no sign of positive divergency. This tells us the reason for a sustainable rally is not ready yet.
So, the current up trend is only a bounce.