Closing Brief

US equity indexes closed broadly weak, sp -15pts @ 2108 (intra high 2125). The two leaders - Trans/R2K, settled lower by -1.8% and -0.9% respectively. Near term outlook is bearish, with viable downside to the 2060s by end month. From there... if the Greek can is successfully kicked... upside across July and into August.


sp'60min

Summary

*closing hour was somewhat weak, breaking a marginal new intra low.
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At least today saw some reasonable price action... with the daily closes all boding for lower levels across the rest of the week.

As ever.. there will be little bounces along the way, but it does look like we'll take out the double floor of sp'2072 before end month.

I do fear one final lunge higher across July/early August.... and I will be looking to close out any short positions ahead of the July 4'th holiday break.
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more later... on the VIX