As the end of Greeks debt bailout program scheduled to end on June 30th came closer, traders around the world are already betting that the EU is not going to renew the interest repayment loan agreement. The Dow Futures contract opened with a 300 points down as globex opened today, setting up a potential black monday stock market crash scenario, unless of course cooler heads prevail, and extends greeks bailout program overnight combined with the plunge protection team coming in to aggressively buy the market overnight. Without either one look for the market to selloff monday.
Key price level for NQ on Monday will be 4460 area, but keep in mind that with increased volatility supports and resistance may get temporarily penetrated.
-- NQ needs to get back and stay above 4460 to turn NQ into neutral mode, with key resistance at 4500.
-- Below 4460 NQ is in freefall, supports are first 4400 then 4350 and 4300.
