Your MUST-READ Morning Stock Futures Cheat Sheet: Pressing lower

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The Precise Take –  Pressing lower

Big Picture Analysis – After a strong showing early Friday in the ES, most of the day’s gains were given back into the close.   Overnight, a new recent low at 1335.75 was made on continued worries out of Greece, and risk of another material leg down have increased.  Having said that, a quick pop to ~1350 to shake out weak shorts would be in line with recent trading patterns, and acceptance above would force more serious short covering.  No economic releases today, so it should either be a quiet day or one dominated by headline risk.

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