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

Posted by ETFalpha ⋅ July 6, 2015 ⋅ Leave a comment

Filed Under $EZU, $FEZ, $FXE, $VGK, Alexis Tsipras, Athens, Austerity, Commentary, Economic Chaos, EM, Emerging Markets, Euro, Europe, European Austerity, European Bond Yields, European Stocks, Eurozone, Financial, financial markets, Germans, Germany, Global Financial Markets, Greece, Greece Crisis, Greece Debt Crisis, Greece Economic Collapse, Greece No Vote, Greek Banks, Greek Crisis, Greek Debt Crisis, Greek Economic Collapse, Greeks, GREK, IMF, investing, Referendum In Greece, stocks, The Euro, Wells Fargo, Wells Fargo Securities

America's Markets

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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