SPX - Greece intensifies - One level to defend 2040

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


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.

- 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 ).

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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