The collision of global markets and social mood

Tuesday, June 2, 2015

Tuesday -- Event Risk

ES Futures:
Broke below the 5/26 swing point. This equates to the S&P cash filling the 2098.48 gap.

Rumors of a Greek deal are swirling. This is major event risk today.

EUR trading higher on deal rumors. USD opposite.

The only thing more spooky than the way treasuries have looked lately is the way rates are rising worldwide this morning.

WTI crude back above 60. NG not showing the love.

Higher but remains sub-1200.

S&P Outlook:
Liking the entire area below 2100 down to 2067.93. The 2098.48 gap should be filled this morning. What happens after remains a secret locked inside a fickle market that has looked corrective thus far.

I will be a buyer with a hard stop at 2067.93. Options are cheap and were made for event risk and rumors and whatever else Risk likes to lurk within.

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