I am expecting a bottom after the initial Greece panic
Theres big pressure on Greeco to pass the cuts on tuesday, unless they do at this point it seems that eu will let Greece default. Its highly unlikely since contaignon would likely catch Spain, Portugal etc, just like it did with the currency crisis in asia about 10 years ago (that minor crisis turned eventually into a global one). Im not sure whats going to happen next it seems absurd that eu would let greece fail and with it the first nation to exit the euro, it would be a big emotional and ideological blow to the eu‘s longterm goal of strength in numbers, i do think spx has not yet seen the high of the year but when will that bounce start ? Im thinking more weakness or choppy sideways action until late august. Spy short float is high though and one would except a bounce of some sort to start soon.