2pm update - increasingly vulnerable

US equities will be increasingly vulnerable into the Thursday/weekly close. At least some of the rats will likely sell into the holiday break, understandably fearful about a Greek 'no' vote. VIX is reflecting mild concern, +4% in the upper 16s. USD is cooling, -0.2% in the DXY 96.10s.


sp'60min

sp'weekly

Summary

*the second consecutive net weekly decline remains due.
--

Minor weak chop... but the earlier high of sp'2085 looks a fair way higher... and out of range by the close, even if Varoufakis (Greek finance minister) says he'll be prepared to lose not one, but two arms.

Seriously... there is ZERO reason why anyone - not least the day traders, should be long across this particular weekend. There is the very significant risk of another major Sunday night futures surprise.. and this time... we would take out the 200dma.. and lose the important sp'2050s.

The giant 2K threshold is a viable target for the doomer bears next Monday.. if the Greeks vote no, and if China remains upset.

-
A bit of a mixed day in the city.. as Thunderstorms are lurking...

Bearish Shadow

--
stay tuned... the rest of the afternoon should be increasingly weak... at least in theory.
-

2.30pm.. chop chop...  bears just need to take out 2070... although price structure has already broken provisionally.

90mins to buy.. before the Greeks save the world.. right?