Market tipping point but which way from here?

Looks like we are reaching a tipping point with no clear view on which way it might go from here.
Wall St is holding its breath in the hope of more stimulus from the 2 day Federal Reserve meeting that is about to start.
Over in Europe there is a tea party of egos going on with the IMF, the ECB and plenty of Euro state representatives looking for a Greek solution. Again, there is Federal Reserve representation here in the form of Tim Geithner, the Treasury Secretary, which is also causing some friction.

In Germany, Angela Merkel's party is under pressure in regional elections.
French banks are also under pressure with rumours of cash withdrawals by Siemens and confirmation from China of a reduction in its Forex activities with Europe.


The Credit rating agencies continue to make hay and throw it on the bonfire with a downgrade on Italy and a deathwatch on French banks.

Currently in the eye of the storm the Greek Prime Minister has speculated on an EU referendum for its voters which he speculates might support his austerity measures (what planet?).
The Greeks have also launched some kind of fund raising today with 13 week bonds which is probably doomed to failure.


Its looking decidedly rocky from hereon in.