3pm update - weakness into the holiday weekend

US equities remain moderately weak, and look set to slip somewhat further as some of the rats will want to exit into the long weekend, with great uncertainty about how the Greek referendum will pan out. Despite a slightly weaker USD, commodities are weak, Gold -$4, with Oil -0.5%


sp'60min

R2K, daily

Summary

*there is particular weakness in the R2K, -0.8% @ 1246. Price structure is a clear bear flag.. having broken today... downside is the big 1200 threshold.. around 4% lower...  would be suggestive of sp'2K.
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Well, its been a VERY busy week... not least after the initial Sunday night drama.

The closing hour will largely be all about traders positioning for the long weekend. I would imagine the vast majority of those hitting buttons will be inclined to the sell side.

Seriously.. who wants to go long into the weekend?
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updates into the close...
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3.12pm... equities starting to weaken... sp -3pts.

Meanwhile.. on clown finance TV...

Gartman 'probably a yes vote'

So... then the result will be a no, yes?
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3.28pm... Somewhat bizarrely.. sp' turns fractionally positive. Who the hell is buying?


3.34pm.. increasingly choppy... . sp' back to -2pts....

VIX is confirming the weekend concern... +7.8% in the 17.30s.


3.42pm... sp -2pts....  VIX still clawing upward... 17.40s...