Monday 29 June 2015

8pm update - awaiting Asia to open

US equity futures remain significantly lower, sp -34pts @ 2067 (intra low -41pts @ 2060). Asian markets are in the process of opening. China looks vulnerable to falling <4K, despite a cut in rates and the bank reserve requirement.


sp'daily5 - anticipated open.. via futures



sp'weekly'2, rainbow


Summary

Sustained action under the lower weekly bol' - which will be around sp'2060 at the Monday open, will be difficult.

Here is a major problem though for the bull maniacs. It is not like Greece are going to pay on Tuesday.

Regardless of any intraday bounce tomorrow....the week looks pretty damn rough....
..
awaiting Japan... and then China....
-

8.10pm.. Major update...

Greek govt' state the banking system will be CLOSED until July 6th.


NO BANKING until after the planned referendum!

As things are.. I'm somewhat sceptical they'll even bother with the public vote, if the ECB do terminate the liquidity program.

With no ECB help..... its game over.