Closing Brief

US equities closed moderately weak, sp -0.6pts @ 2076 (intra high 2085). The two leaders - Trans/R2K, settled +0.2% and -0.6% respectively. Near term outlook is uncertain, and will depend almost entirely on the result of the Greek referendum. A 'no' vote would bode for another 2-3% lower next Monday.


sp'60min

Summary

... and the short week comes to a close!

Equity bears achieved a fair few things this week, with VIX 19s, the biggest one day equity drop in over a year, and a rather significant break lower in WTCI Oil to the $56s.
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Of course, now its a case of how the Greeks vote.

A yes vote.. and it seems that the market will rally.

A no vote.. and we'll surely see a major wave lower across Sunday night.. with a major gap lower. The loss of the 200dma of sp'2054 would be a major problem.. and offer the big 2K threshold. Right now.. few in the mainstream are considering that scenario.

My guess? A 'no', but then... that is probably wishful thinking.

Regardless of the market/Greek nonsense...  have a good weekend!
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*the usual bits and pieces across the evening... to wrap up the week