Selling resumes to begin this week as there are a variety of concerns on the minds of market participants. Formation of a coalition government in Greece was unsuccessful over the weekend and it seems more and more likely that Greece will exit the Euro. The JP Morgan situation continues to be a concern as losses could be worse or get worse than what has currently been reported.
I prefer selling rallies but I expect support to hold up today between 1326 and 1330 on the ES.
Levels to watch today on the ES:
Resistance above at: 1343-1344, 1351-1352, 1356-1357
Support Below at: 1330-1331, 1325-1326
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