2pm update - blame the Greeks

The equity bull maniacs could feel pretty justified to blame the Greeks for today's rather significant sell off. Yet.. a GREXIT itself is probably many months away.. and that is even if the next Greek leadership (if such a word can be used for an Athens Govt).. decides it wants out of the Euro.


sp'60min

R2K, daily

Summary

We're seeing a touch of support around the gap zone... which also happens to be a key fib retrace.
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Any consistent break <2018 would be a real problem, and open up the pre-FOMC low of sp'1972... which seemed unthinkable just 3-4 days ago.
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Regardless of the current little drama... new historic highs are surely still due... not least as suggested by the R2K... which itself is due to gap fill late today/early tomorrow.
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2.23pm... chop chop.. around sp'2020...

Notable weakness.. coal miners.. BTU -10%.. in the $6.90s... primary target remains $5.00...but that is unlikely until midsummer