Euro Capital Flight Begins

armstrongeconomics.com

Reports both from Europe and United States indicate that capital is starting to flee from Southern Europe which prompted the statements by politicians that Cyprus will not become the standard model, which of course it is. The European banks are closed today. Resistance for any knee-jerk reaction will begin at the Monthly Bearish Reversal that was elected 12972 level with weekly system resistance at 13030 level this week. Again, a pause this week will suggest a resumption of the decline into next week, but if they try to support this, then and rally will end by next week and it will be down into May. Europe is clearly now finished. Rumors that in-laws of the President of Cyprus quickly wired out €21 million Euros to London just before the banks were frozen is showing that there are two rules (1) politicians & family, and (2) us.

http://rt.com/news/cyprus-president-money-withdraw-129/