Well the Greek default seems to be a reality and here’s why.

The big three ratings agencies have come out with reports saying that a missed payment to the EU and IMF would not be a credit event and trigger a default.

This way there is no contagion downside in the markets so let it rip.

It appears from Thursday’s markets the sell in May and go away crowd got a jump on the beach crowd and sold off to book profits.

But to reinforce the lack of memory and being the 1st of the month, Dow futures are up 90 points.