AB=CD completed (in Red). Now stands at 38 retracement. Similar action in Australian futures with the 24 hours leading up to expiry and the day of expiry (huge selling on no news). Greece news aside we may see this retrace this sell-off. Broker EPS targets the SPX to be at fair value at the 2100/50 level (now current levels). Limited fundamental upside from here, but a better place than EM and Europe until Greek contagion clears.
Subject to Greek news then all bets off and we get slammed for another week.
Subject to Greek news then all bets off and we get slammed for another week.