6.14.2012

The anxieties about Eurozone problems will likely pull the SPX lower today and Friday to around 1300.xx.

7.00am update
I've just found this new on http://finance.yahoo.com/news/greek-bank-stocks-surge-pro-102539457.html?l=1
"Greek bank stocks surge on pro-bailout optimism ahead of vote

ROME (Reuters) - Greek banking stocks surged on Thursday, rising over 20 percent amid market talk that secret opinion polls were showing that a government favorable to the international bailout agreement was likely to emerge after the June 17 election.
"The market sees that a pro-European government which will push ahead with reforms will be formed on Sunday," Panagiotis Kladis, an analyst at NBG Securities told Reuters.
Another broker said the market was trading the scenario that the radical leftist SYRIZA party, which opposes the European Union and International Monetary Fund-led bailout deal, would not gain enough support to form a government.
The main bank stocks index (.FTATBNK) stood 20.08 percent higher at 218.2 at 0615 EDT, outperforming the broader market (.ATG), which was up 6.85 percent.
Greek law forbids the publication of opinion polls in the two weeks before elections.
(Reporting by Lefteris Papadimas and George Georgiopoulos)"
I consider trading based on this news is a speculation. However, if the index closed today in green and no lower than 1306 found on Friday, this speculation may become truth.

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The anxieties about Eurozone problems will likely pull the SPX lower today and Friday to around 1300.xx.
The index may find a strong support at 1292 and might be wandering around 1300.xx on Friday waiting for events from Eurozone on Monday to decide it's direction for next week

I would like to quote the chart I posted on Tuesday 6/12/2012 showing two different scenarios.
Both scenarios suggested that a bounce would be caped by 1326.xx following by a pullback to 1300.xx.

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