In this video, Christopher Terry, of iMarketsLive.com, reviews the S&P E-mini Futures since the market has now broken out of its rising channel and made a sharp move to the downside out of the news from Greece. Chris also points out the key zone to watch heading into the long holiday weekend.
The market has broken down from all time highs and now has tested the prior 20-day lows. It is currently trying to correct itself, but traders should start to see resistance at the 2070-2074 area and possibly another attempt to the downside. In a bullish market, the price should have rebounded already, however, it is hinting of negative bias.
By Christopher Terry, Contributor, iMarketsLive.com
