Euro Stress Test Scenario

I am going to treat the stress test like an important Fed day, with the caveat that Europe will be closed when the announcement is made on Friday but the US market will be open at noon.  After the first half hour oscillation, we should steadily grind higher from 10 AM to noon.  After the announcement we will likely make a dip and then go back higher into the close and finish strong.

I expect the stress test to be passed with flying colors for the critical big Euro banks and they will likely gap up higher at the European open on Monday.  That should be the top for this move.  Hopefully it is around 1105-1110.