Pre-Monday Risk picture

The  Plunge-Protection-Team, PPT, came in during the last hour of the session Friday, but this does not change the direction of Friday, my indicators tells this story:

Doom-and-Gloom Index: +157 bps
Inflation Index: -119 bps
Equity Index Benchmark: -82 bps
Inv. Bank portfolio: -55 bps

The Advance/Decline line is in trouble: http://stockcharts.com/h-sc/ui?s=$NYAD&p=D&yr=0&mn=6&dy=0&id=p97145855631

We go into the new week with the same overall "big positions":

Short GBPUSD; short EUR, long US FI (not working), and lottery ticket bought on Friday on USDCHF upside - short stock market through options plays.

Commentary:

Merkel is all over the press this week-end, pro/con the Greece bail-out - it really does not matter anymore - the politicians play the old game of: Talking too much - doing too little  - the divide btw Germany and France is now wide open and not possible to close down.

Finally, my own "cyclical indicator" points to some downside risk: (Click on chart for larger version)