Bonds, Currencies, Emerging Markets, Stocks

Wall Streeet Pro: Buy Greek-Inspired Dip, Just Not Yet

America's Markets

epa04833082 An elderly woman waves the national Greek flag as she joins supporters of the Syriza party and of the 'No' vote campaign, gathering after results of the referendum in front of the Greek Parliament in Athens, Greece, 05 July 2015. Greek voters resoundingly rejected bailout terms in a referendum on 05 July. Athens said it was willing to resume talks with international creditors; and eurozone leaders were planning an emergency summit on 06 July to tackle the crisis. After months of negotiations between the anti-austerity Greek government and its international creditors, Athens used a bureaucratic manoeuvre to postpone a series of June payments to the International Monetary Fund (IMF) until the end of the month.  EPA/KAY NIETFELD An elderly woman waves the national Greek flag as she joins supporters of the Syriza party and of the ‘No’ vote campaign, gathering after results of the referendum in front of the Greek Parliament in Athens, Greece, 05 July 2015. Greek voters resoundingly rejected bailout terms in Sunday’s referendum. (EPA/KAY NIETFELD)

The U.S. stock market will likely be victim of a “risk-off” trade leading to lower prices following Greece’s ‘No’ vote, but the time to buy the dip won’t be until central banks step up to contain crisis.

That’s the market call out this morning from Gina Martin Adams, institutional equity strategist at Wells Fargo Securities.

Following the vote in Greece in which more than 63% of Greeks voted against the onerous bailout terms of creditors, putting Greece on a dangerous track to exit the 19-nation eurozone, the main focus for markets in coming days will be the outcome of…

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About ETFalpha

Chief ETF Strategist & Co-Founder at EMerging Equity

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