YaKa

SPX - Greece intensifies - One level to defend 2040

FX:SPX500   S&P 500 Index
352 1 9
The market could open slightly lower on the disappointment of the Greek talks in Brussels this weekend.

http://www.ft.com/cms/s/0/5530f788-1288-11e5-bcc2-00144feabdc0.html

Technically, as long as the last bottom is defended, the posture could still deliver a relief spike.

On SPX             , 2140/2160 is the target short. (2200 would be the extreme vertically, +1% per month).

Below 2040 in close could open to very different dynamics to the downside.

Trading:
- The long is very tactical.
- The short is the strategic trade here and the target to do so is 2140/2180 – Minimum target 1960 (testing the yearly pivot ).

Dates:
18Jun15 – Greece - EU Finance Ministers Meeting.
19Jun15 – Options Expiry – Which has been historically on an uptick.
30Jun15 – Greece - Cut off date for the 1.6bio scheduled payment to IMF.

The amounts are rather small – It is a question of ego/nego – There should be a solution.
Tops are rarely made on bad news.
I am trying to understand the Red Lines, why those spots chosen to align it with the top any technical reasons? I am confused.
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