An up-day Friday, with a close at key Line-in-the-Sand for Monday (2335), with 2355 resistance, 2310 and 2295 support. European sovereign debt crisis continues to intensify, with the Greek debt interest payment on their bond coming due at the end of the month. Greece does not have enough money to pay for the interest payment due at the end of the month.
The Euro zone countries would have to pay for the interest payment on the Greek bond if they are going to delay the inevitable total European banking collapse, which will come, not if but when, it is just a matter of time.
For Monday on NQ:
- Bullish above 2335 with the first target of 2355 and second target a test of Tuesday swing high.
- Bearish below 2335, targeting a decline down to either 2310 or 2295. If the market is really bearish it may go down to re-test 2270.
